ELECTRIC POWER BOARD

Wairarapa Daily Times, 20 July 1934, Page 2

ELECTRIC POWER BOARD

RECOMMENDATIONS APPROVED. The monthly meeting of the Wairarapa Electric Power Board was held in Carterton yesterday, the chairman, Mr A. Campbell Pearce, presiding. Others present were: Messrs S. Dalgleish, I. Grace, W. Benton, H. P. Hugo, R. J. King, R. Buick and W. Howard Booth. Accounts amounting to £9593/4/2 were passed. The following recommendations by the Pinance Committee were approved:— (1) That the securities purchased from the Guardian Trust and Executors Co., Ltd., as an investment of portion of the General Reserve, be written down to par from .the surplus accrued in the Revenue Account as the result of the appreciation in value of such securities when held by the Sinking Fund Commissioner. (2) That such securities be deposited with the Bank of New Zealand for safe custody. (3) That the tender of Messrs Edwards and Button to complete the painting of the main store building (Masterton) for the sum of £7 15s be accepted. (4) That the board reaffirms its decision not to allow private advertising signs to be affixed to power line poles. Arising from the Engineer’s report on earth leakage relays, the action of the Engineer in advising contractors that the board is prepared to wait for delivery, was endorsed.