Annual meeting of Tramway Company.

Auckland Star, Volume XVII, Issue 98, 24 April 1886, Page 5

Annual meeting of Tramway Company.

The annual meeting of the City of Auckland Tramway and Suburban Land Compuny (Limited) was held on March 31, at the office of the Company, Queen-street. Mr Jas. MeCosh Clark, Chairman of the Company, presided. •- Eighteen shareholders were present. Tho Secretary (Mr F. A I White) read the balance-sheet. The report stated the various works that had been put through during the year. The Western Circuit from foot of Queenstreet to Three Lamps may now be said to be complete The eastern line has been completed to Newmarket, and was opened for traffic to Kyber Pass on the 7th November, lSßi>, and through to Newmarket on Ist March, 1886. In connection with construction additional accommodation for 100 horses has been provided, a cor shed erected to accommodate eight cars.and the Ponsonby shed concreted ; also several additions to other buildings have been made. The completion of both circuits must now be faced, including College Road on the one hand and Parnell on the other. The returns show that the public use the cars more than was anticipated. The numbers on tho western circuit exceeded the estimate and amounted to 805,085 passengers, and the directors are confident that this year will show a largo increase on the figures Tho eastern circuit also promises well Since running to Ne* market tbe weekly returns have averaged over £'140 per week. The working account for the yoar shows a profit of £1,638 15s 6d, which may be soid to have been mado on the western circuit only. On the 21st September the directors purchased the West End 'Bub Co.'a plant, etc., and it has turned out, an advantageous step. The balance-sheet was as follows :—

Wot-Ki.vo Account from Ist Marcji. 1885, to 28 in February, 1883.—T0 horse feed, shoe lng, Ki-OL>ma'. and drivers' wages. &c, £6.96115 a 9.1; traffic, maintenance, management. Sec £3.179 fla 9d: balance. £1.638 15a 6d: Total, £11,782 18i. By fares, £11,413 12<; advertising. £339 6i : Total. £11.78213 d.

Profit and Loss Account from Ist March, 1885. to 28th February. 1836. -To balance on 28th February. 1885, £4.827 4g lid; general and legal expenses, Tongariro working account, &c . £1,755 18a 4d; interest account. £2.410 la 2d : Total, £9 023 4a sd. By rent. £137 6a; balanoe from working acoonnt, £1 63815s 61; balance, £7,247 3a lid: Total, £9,023 4a sd.

Balance-sheet, from Maroh 1,1885, to Feb. 28. 1886—To capital: 125,000 shares at £1, £125,001 ; less unallotted shares, £39,862 ; forfeited shares. £1.010 Us lOd; calls unpaid £1.670 7a 6d—£76,120 17a 8d ; debenture aocount, £9,890 ; mortgages re-mortgaged, £5,322 16a 8a ; sundry creditors, mortgagoa, etc., £54.682 Is 10a; total, £116,215 16a 2d. By tramway (Including permanent way, rolling stock, horaoe, stable qtenelle, &c), £51.916 16a lOd; tramway land and buildings, £915 16s Gd ; mortgages re-mort-gaged, £7.362 la 8d; St. Holer's and Northcote estates, £56 879, 9s lid ; debtors for land, bills reo«ivable, &d, £12,190 ?a 6d ; p.B. Tongariro, £1.000 ; cash in hand and with oonduotora, £13 6a lOd;balance from profit and loss, £7,217 3alid: total, £111,215 16s 2d —Tho balanoo-ahoet waa vouched aa correct by Messrs John Milne and John Wa\mooth, Auditors.

Tha estimated working aocount from let Marob, 1886, to 28th Maroh, 1887, oaloulates the receipts from fares, Sec, at £23.282, while after providing for all items of expenditure, It ia estimated there will be £5,1 &9 to carry to profit and lops account. Tho estimated profit and loss account for the same period shows a balance for the year of £3,679.

The motion for the adoption of the report and balance-sheet was then put and carried. Mr E. Mitchblson, M.H.R., moved, and M r Pierce Lanigan seconded, that tho three retiring directors, viz., Messrs W. Aitkon, G. Aickin, and H. Brett, Bhould be reelected. It was moved by Mr P. Lanigan, soconded by Mr Mitchelson, M.H.R., "That Messrs Waymouth and Milne should be re-appointed auditors at an increased honorarium of £20 each, the audit to be made from time to time as the directors required." Mr Wren moved, as an amendment, and Mr Compton seconded, that the honorarium should be £15 each, and that the audit should be quarterly or as required. The amendment was negatived, and the motion carried.