MANAWATU RAILWAY COMPANY.

Auckland Star, Volume XXXIX, Issue 244, 12 October 1908, Page 5

MANAWATU RAILWAY COMPANY.

LARGELY INCREASED REVENUE. SH__I___OLD_RS RATIFY SALE. (By Telegraph.—Press Association.) WELLINGTON, this day. At a general meeting of shareholder. o fthe Wellington-Manawatu Railway Co. held to-day, the chairman drew attention to the fact that the gross revenue for the. six months ending on 31st August amounted to £83,272, as compared with £78,272 for the corresponding period of last year. The net profits for the six months showed a substantial increase of £314S compared with the net results of operations during the first half of last year. After referring in detail to negotiations with the Government, the chairman added that the shareholders would naturally look to the directors for some expression of opinion as to the amount their shares should realise upon completion of the purchase and realisation of the remaining assets of the company. Provided the company were immune from serious accident or other unforeseen expenditure, the directors considered that the sum of 55/ per share was assured, although he hoped that the esti-. mate might be slightly exceeded. The meeting. ratified the action of the directors in agreeing to sell the railway and propert- tt the Government.