United Press Association—Per Electric Telegraph]
Christchoech, June 13 iThe City Council last night received a deputation which urged that the city should acquire the' Christchnrch Gas Company's property at a fair price, or failing that to obtain legislative power to construct municipal gas works. Mr Taylor, M.H.R, who was one of the deputation, referred to the large profit? made by the Company, and alleged that of the Company's paid up 1 capital of ,£120,0C0 £-10,000 was represented by surplus profits m the shape of reserve funds which had been divided amongst the shareholders taking up new shares. The price payable to the Company should not exceed the present market value of it? shares, which is ,£225,000. fn the event of the Council being unable to get the necessary legislative authority to construct its own gaswor&i, the deputation suggested additions to che present municipal electrical installation at the destructor or po wetbeing given to the Tramway Board to procure surplus current for light and power for the oity. The Council was also urged to call together the special committee set up to deal with the Waimakqriri electrical power scheme. On the motion of the Mayor a committee of the Council was set up to consider the advisability of purchasing the Gas Company's property.
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Municipal Gasworks., Ashburton Guardian, Volume XXII, Issue 6594, 13 June 1905
Municipal Gasworks. Ashburton Guardian, Volume XXII, Issue 6594, 13 June 1905
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