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DISTRIBUTION TO SHAREHOLDERS. (By Telegraph. —rress Association.) WK.T.I,I\TrTO\ ; this day. The final report and balance-sheet of the •Wellington and ilanaivatu Railway Company was presented at the annual meeting, held at noon to-day. The Chair'inin state:! ''-at after allowing for all ■ ingoing;, *J w r= were balances in w> ', liiigton and London totalling £430.400. .Shareholders still had freehold lands nt Thorndon, taken in at £10,260, balances due by land purchases on mortgage £26\254, deposits and accrued interest £30,542, Wellington Corporation debentures £9700, which, together with the cash balances referred to, made the total assets £;i13,187. The only liabilities, othrr than share capital, were sundry creditors £6263. The estimated cost of liquidation was set. down at £2000. The position disclosed by the balance-sheet wurra-nted the announcement that an early distribution by the liquidators of 55/- per sharp should be made, and provided the remaining assets could be realised upon satisfactory terms a further dividend of 4/6 or possibly 5/- per share might be looked for. GRANTS TO E3IHLOYEES. WELLIXQTOX, this day. At a meeting of the iWellington-Mana-watu Railway Company to-day the chairman announced that it had been decided to grant an additional week's pay to all of the company's employees whose length of service exceeded one year and did not exceed five years, a fortnight's pay for those whose period of service was between live and twelve years, and four weeks' pay for those, with a record of over twelve years. Special payments had been made to Messrs. Hannay, Marchbanks (engineer), Cook'" (accountant), Harold (London secretary), in recognition of their services, and these sums, with the money distributed among the general staff, totalled £8000. This amount had been taken from special accumulations of previous years put\aoide for the purpose.

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Bibliographic details

MANAWATU RAILWAY., Auckland Star, Volume XL, Issue 66, 18 March 1909

Word Count

MANAWATU RAILWAY. Auckland Star, Volume XL, Issue 66, 18 March 1909

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