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WATER-GAS

The statutory meeting of the Brltfah Water-Gaa Syndicate, Llmltod, was held »t the Oity Termlnna Hote ,0»onon street od May 14, Mr. Samson Fox presided, add there was « crowded attendance. Mr Fox gave a long and exhaustive aoooant of the p sltton and prospects of the Company. They had, he said, 1400 putners (n the concern. On April 1, they offered to the public the parent Water-Gas Company, wltb a BUbßorlbed capital to ths amount of £900,000, the property purohised inoloding some sixteen of twenty patenti. The capital was eight times applied for. They then floated suboomp»nlee~tbe Yorkshire, with a capital of £161,000, which was six times: sub sorlbed for ; iha Notts and Derby, with ft like oapltal, wbloh was eight times applied for ; and the North Btitleh, with a capital of £301,000, which was applied for ten times over. The property they hai subscribed fo* on April I had yielded them £101.000 eaoh for Yorkshire and Notts, and £251 000 for the North British— a total of £453,000. and they paid for the property which had been so sold £217,260. These amounts would acbroe to the Company, le?a the promotion money In eaoh o«se la addition they had fijed concessions which amounted to £201 000 I £150,000 beioß m. cfcsh ; and further oon-1 traotß had been entered into upon which substantial sums bud been paid on deposit, tbe amount of theee on the aggregate' being £1 000,000. Thus they had a total of £1,854,000 m bi'x week*. Thay proposed to stand firm and to deal with the question of water-gaa ull over the kingdom aud m no case would tb y fall baok and deal with any other question or p*rtp, They were a pariy of themaelv a, and they were determined to go straight away on the linea whioh thoy had Btruok out. and to do something on a great eoalo to show that water- g» B ha.d. something m it, and that ft was likely to nrove of benefit to mankind. They would go into the occupation of worfca at Glasgow on May 16, where they would have every faollity for osrpying on a large and suocesaful business, wltbln a stone's throw of a ooil pit, and from which could be euDDlied thr,ugh one centre the wbolo of the plant necessary for their operations. Subsequently an oxlraordina-y waß neld, at whtoh oertajq alteration Wdr e proposed tl^o article* of aeaop^t^.

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https://paperspast.natlib.govt.nz/newspapers/AG18890626.2.11

Bibliographic details

WATER-GAS, Ashburton Guardian, Volume VII, Issue 2158, 26 June 1889

Word Count
404

WATER-GAS Ashburton Guardian, Volume VII, Issue 2158, 26 June 1889

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