Power Restrictions Lifted In Auckland

Wanganui Chronicle, 1 June 1948, Page 4

Power Restrictions Lifted In Auckland

(P.A.) Auckland, May 31. AU power restrictions in the Auckland Electric Power Board’s area, with the exception of those on commercial radiators, were lifted by the board today. This decision will be subject to review week by week. Hours when radiators can be used in commercial premises will continue to be from 9 to 11 a.m. and 2 to 4 p.m. Support for the resolution passed by the Auckland Chamber of Commerce urging the setting up of a Royal Commission to investigate the electricity supply position has oeen given by the Auckland Electric Power Board. A previous resolution confirmed by the board today suggested that the commission should be asked to direct its attention particularly to the present proposals of the State Hydro-Electric Department to augment its hydro-electric supply and whether these proposals should be supplemented by the development ol smaller hydro-electric schemes and/or by the provision of modern steam generating plant. The board decided to accept an offer by J. H. Francis, a Wellington financial broker, for the financing of its £500,000 general extension loan. Interest arrangements are for 31-8 per cent, on the first portion of the loan with the special provision for debentures maturing within the first five years. Longer term debentures will be underwritten if necessary at rate not exceeding 34 per cent, with rights to board to sell any of these debentures at 3 1-8 per cent.