ESTIMATE.

Otago Witness, Issue 832, 8 November 1867, Page 7

ESTIMATE.

Buildings.— Tank for gas-holler, dry--well, &c, L125412s ; tar tank and cover, L 24 10a ; alterations to present shed f>>r purifiers, L3O ; alterations to dwelling house for office, &c, 1-30; building for governor, L 35 ; retort house and furnace shaft, L 493 ; repairing jetty, iron rails, trucks. &c, L 73 ; fencing land, L3O : total, L 1970 2a. Should the nature of the ground prove favorable for the construetkm of the tank, there wouM be a deduction from the item of Ll5O. The estimate for retort house > could also be reduced by about L6O.

Main Pipes.— 110 tons pipes for mains, &c, delivered, L 110 0; 250 chains trench cutting and fitting, LIOO ; making joints. &c, L2so;. 3 syphons fixed complete, £15 ; 200 services t» building line, L 30 0: total LI7GS.

Plant on GeoTOD. — Gasholder with columns, chains, girders, weights, &c, complete L9OO ', retorts and setting, lumps, fire bricks, *c, L 403; hydraulic main, ascension pipes, bridgjea, and dip pipes, USO j fixing do

•{all-complete), 1 L 120; condenser, purifiers and goveru<«vL2so: t^tal, LIBSB. •' :>: >- ■ [ 200 meters, assorted, LSOO. SUMMARY. . Buildings....' ...£1970 2 0 Pipes and services ... ... 1765 0 0 Plant on ground 1853 0 0 Meters B<.iQ 0 0 6388 2 0 Add 10 percent, contingencies... 638 16 0 Purchase of land 820 0 0 £7S4(> 18 0 The following statement of yearly expenditure and income is bcised on a daily consumption of 20,000 cubic ft*et of gas charged at 15s per mill. No charge or income is included for meters which it is recommended should be supplied gratis to consumers. The salaries include a working manager at L3s'», and a secretary and collector at L2OO per annum. Expenditure. — 10 per cent, interest on outlay, LBuO ; salaries and wages, LI200; 1000 tons Newcastle coal L2OOO ; lime for purifiers, L 18 2; wear and tear to plant, &c, L 750 ; t..tal, L 4932.

Income. —73(10 cubic feot of gas, at 153 per mill, L 547 5; 500 tons of coke, 40s per ton, LIOOO ; tar and sundries, L2OO ; total, L 6675 ; deduct 10 per cent, for bad debts, &c, L 667 103 ; leaving Lb'oo7 10s.

[ Profit remaining after payment of 10 per cent, interest on outlay. LIOTS 10s. The Committee having received from 253 inhabitants of the City, applications for 1000 | shares, instructed the Solicitor of the Company to take the necessary steps for registration, and to prepare all the required forms. This, and other necessary woik of a preliminary character, having been completed, it now remains with the shareholders to ■elect directors, so as to proceed as quickly as possible with the works. The Committee would add, that, from numerous inquiries made in this and the neighboring Colonies, they have no hesitaj tion in stating, that the estimated amount I will be fully sufficient to carry out the ob-■j'-cts of the Company ; and that with regard to the price of gas, Companies having ■extensive land carriage to pay, are now supplying consumers at a lower rate than that on which the calculations of the Company are : founded. Mr "William Watson moved the adoption of the report. Mr William Kennedy seconded the motion. The Chairman (in reply to a question) said that a great deal of care had bfcen takea in preparing the estimates of the cost of the works, and the statement of annual expenditure and income. He believed the figures were perfectly to be relied upon. Mr Stratton said that he believed he was as competent as any person could be, to estimate the cost of the necessary buildings, the trench-cutting, pipe-laying, &c. As to the cost of the manufacturing plant, &c, he had, in every instance, availed himself of information from perfectly competent practical men.

The motion for adopting the report was agreed to. The Chairman said he was informed that there were several contractors who were rea^y to guarantee that they would cany out such works as thosd specified, at a cost not exceeding that stated in the report. Mr James Copeland moyed that the folio wij|g gentlemen be elect^igs directors for tiraT tirst year : — Messrp Menlove,*. Wilkinson, Bird, Barker, Kennedy, Wilson, Mitchell, Aikman, and Proud. Mr A. Moses seconded the motion ; and it was adopted. i The Chairman invited questions or suggestions. Mr Thomas Hudson asked whether there had been any communication between the Provisional Committee and Mr Hutchison, as to a reduction in the price of gas ; and whether Mr Hutchison was willing to make a reduction. The Chairman said that all he knew as to Mr Hutchison's views he had learned from Mr Hutchison's published letter or letters. Mr Copeland had heard that there had been a deputation to Mr Hutchison. If there had not been a deputation, lie thought one should be appointed, before engagements were entered into . hy this Company. Two Gas Companies could not be maintained in Dunedin. He was sure that those who had now taken shares did not want to injure Mr Hutchison ; but it was to them, as shareholders and as citizens, a pound-shilling-and-pence necessity that there should be cheap gas. The Chairman understood that a deputation of consumers waited upon Mr Hutchison somo time ago ; and that the result was, a positive, refusal to reduce the I price. He (the Chairman) knew nothing f whatever about a deputation as from the Company ; and he thought that Mr Hutchison should come to the Company, not the Company go to Mr Hutchison. He thought that Mr Hutchison had not shown any inclination towards such a course.

Mr Kennedy thought that almost every consumer m the City could say, " I have asked Mr Hutchison to reduce the price, and he has refused " ;

Mr Ccpeland wished this to be understood; — he was f ar from desiring to throw cold water upon the new Company ; but he did, believe that if a satisfnetory arrangement could be come to with Mr Hutchison^ that would be "better than forming a second Company, and causing the streets to be opened again, • which, in itself, must be admitted to be an evil. As he understood it, the shareholders in this Company were. not going in for a profit, but simply proposed to pay expenses, so that the city might be cheaply lighted. He believed that Mr Hutchison would come to terms : but cheap gas there must be, in one way or the other. Mr Kennedy thought that if there was to be a reduction in price, without the erection of new works, the proposal should come from Mr Hutchison. Instead of that, he had dared them to go on, a d had told them they could not raise the funds.

Mr Whittington did not arjree that the shareholders were not going for profit. The report said that 10 per cent, would be paid, as well as the price reduced to 15s a thousand.

Mr P. Barker said that he had spoken to Mr Hutchison about a reduction. He had been informed that the shareholders in the old Company could not interfere in the matter; and Mr Hutchison stated that he could not make a reduction until next winter, and that he would then bring the price down to Ll a thousand. Mr Copeland : If that is the fact, I think that tliis Company is bound to go on. T Mr ' Hudson thought that the best way to bring Mr Hutchison to terms was to .get the second 1000 shares taken up. While there was only one-half the shares subscribed for, Mr Hutchison might say, "I don't care for them yet." Mr Copeland suggested that this Company might injure those citizens who were shareholders in the existing one. Mr Whtttington believed that such a result was not at all likely. He himself had 56 shares in the old Company ; and the shareholders had never yet derived any benefit from that Company. He believed that Mr Hutchison had got the directors tv extend his original lease of six years to one for 21 years ; and he also believed that nothing that the new Company could do wo'ild make the position of the shareholders in the old one worse than it was. Even if Mr Hutchison undertook at once to reduce the price to Ll a thousand, he (Mr WHttington) thought that this Company should go on ; because he believed that after the first year's work, this Company would be able to supply gas at 7s 6d a thousand, instead of 15s, and still have the Comnany paying well.

Mr Hudson said that he had information that Mr Hutchison meant to reduce the price ; and if there could be a guarantee of a reduction to 17s 6d, it would be better than going on with new works, seeing that two Companies could not live.

The Chairman : Perhaps Mr Hudson will state who his iraformanr is ?

Mr Hudson : No ; but I have it on good authority.

The proceedings were concluded by thanks to Mr Bastings, for presiding.