RAKAIA AND ASHBURTON FORKS RAILWAY COMPANY (LIMITED.)
The annual general meeting of shareholders in the Rakaia and Ashburton Forks Railway Company (Limited) was held at two o’clock on Friday afternoon, at the office of Mr. C. F. Barker, Hereford street, Christchurch, Mr. George Hart in the chair.
The Secretary having read the advertisement convening the meeting, the minutes of the last annual meeting were read and confirmed.
The following report was then presented and adopted as read : The directors, in submitting their second annual report, have much pleasure in congratulating the shareholders on the opening of their line for traffic. The arrangements with the Government are not yet completed, and there are minor portions of the contract unfinished. Your directors, however, being anxious to facilitate the carriage of grain this season, thought it undesirable to wait for the completion of the contract before opening.
The Company’s engineer has certified that the railway is safe for the conveyance of passengers and goods and the line has also been inspected by the Government Engineer. During the past year, your directors have found it absolutely necessary to make two calls, amounting to 30s. per share ; the first, of 10s. per share, payable on first August, 1879, and the second of 20s. per share, payable on the Ist January, 1880. They have, however, good reason to believe that it will be unnecessary for them to make any further calls on existing shareholders. For the Board of Directors.
'jeqrcf. Hart, Chairman. The Chfiirni®®inoved, and Mr. Cuff seconded, the repbrt and balance sheet, the motion being unanimously agreed to. Messrs- j. Hart, J. L. Coster, and J. E. TayiJT, the retiring directors, were reelected for the ensuing year, no other gentlemen having been nominated. Mr. John Ollivier, on the motion of the Chairman, seconded by Mr. Passmore, was elected as auditor.
The sum of LSO having been voted to the directors as remuneration for their services during the past year, a vote of thanks to the Chairman terminated the proceedings.
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