WELLINGTON GAS AFFAIRS

Auckland Star, Volume LXXIV, Issue 35, 11 February 1943, Page 3

WELLINGTON GAS AFFAIRS

Reference to the substantial increase in the manufacture of gas was made by Dr. C. Prendergrast Knight, chairman, at the annual meeting of the Wellington Gas Company yesterday. The revenue from sales of gas was £266,788, an increase of £7241 over that for 1941; and total for 1942 was £316,557. an increase of £ 3657. Operations were adversely affected by further increases in the cost of coal and the selling price of the residual coke was unchanged. The policy of making adequate provision for depreciation was continued, the sum of £20,224 being written off. Capital expenditure for the year was £22,684 against £17,311 for 1941. Extension of the carbonising plant, which had been in progress over two years, was still incomplete owing to delay in obtaining materials from England. . Mr. R. A. fright thought the assets were such as not to warrant the reduction of the dividend from 7 per cent to 6 per cent, and asked the directors to consider the matter. The report was adopted.