The Manawatu Railway.
[BER PRES3 ASSOCIATION,]
Wellington, April' 2.
At the annual meeting of the Wellington st,nd Maaiawatu Railway Company the annual report and balancesheet (previously telegraphed) were adopted. The Chairman, in moving the adoption, 'said he would venture to express the opinion that the present annual statement of-accounts marked an epoch in the Company's history. Hitherto, each year's statement had consisted mainly of accounts, showing the subscribed capital, and the borrowed money which had been expended. This year, they had proof that the earnings of the railway, and the income derived from mortgages, were, now sufficient to defray the whole of thq charges for the year, and leave a surplus of £5379 available for dividend purposes. This amount the I directors recommended should be carried I forward.
Some discussion took place over the proposed payment of a bonus to Mr Higginson, Engineer, who had charge of the. construction of the line, but the question was deferred to a special meeting,
Messrs James Smith and T. McCarthy were re-elecfced directors,
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The Manawatu Railway., Ashburton Guardian, Volume XII, Issue 2392, 3 April 1890
The Manawatu Railway. Ashburton Guardian, Volume XII, Issue 2392, 3 April 1890
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