AUCKLAND GAS COMPANY.

Auckland Star, Volume XXVII, Issue 179, 31 July 1896, Page 3

AUCKLAND GAS COMPANY.

HALF-YEARLY MEETING

A DIVIDEND DECLARED.

TnK half-yearly meeting of the Auckland Gas Company was held this afternoon ab bhe Company's office, Mr T. Peacock presiding. The following statemenb of accounts was presented :— Revenue for the half year ending June ..Oth, 1595: By gas, £18,370 14s' 6d ; balance from lasb year, £18,483 6o 4d^: by residues, £3,393 18s 9d ; transfer fees, £7 ; interest, £137 Os 9,1 ; total, £41,392 6s 4d. Expenditure, £13,205 5s Id (including works maintenance, wages, etc., £2,354 3s 2d), The sum ot £155 waa allotted to directors for the period. The balance of neb profits on June 30, was £28,187 Is 3d. The directors proposed to appropriate this sum as follows: Payment of dividond of 7i 6d per sharo on £15.500, £5,812 10a 3d; paymenb of dividond of 3s 9rt per ahare on £13,743 (new shares), £2,576 10a 3d j paymenb of 15 per cenb. on call from date of payment, £161 14s lOd : total, £8,551 Is Id. To be carried forward fco profit and loss new accouHb, £19.636 Os 2d.

The accounts were adopted as above. Tho Chairman remarked on the increased business of tho Company and the consequent extra work for directors, and it was resolved to increase the honorarium seb apart for the directorate to £450 per annum. The Chairman, in referring to the increase ot business of the Company, said thab the accounts kept had increased 14 percent. Bince last meeting, and durinK the halfyear the business had increased 27£ percent. The increase oE business had led to double fche amounb of work for the direcbors, and the popularity of the Company was extremely high as a profitable and safe investment. Ho mentioned that tho Company had been paving dividends regularly sinco 1867.

Regardinp tbe honorarium for director!., Captain H. F. Anderson proposed that ib be £600 per annum, but on the .notion of Mr Hirsb, the sum of £450 waa agreed on.