CHRISTCHURCH GAS COMPANY.

Press, Volume XL, Issue 5755, 28 February 1884, Page 2

CHRISTCHURCH GAS COMPANY.

The nineteenth annual general meeting of the shareholders of the Christchurch Gas, Coal, and Coke Company, Limited, took place at the Company's office, Gloucester street, on Friday afternoon, February Ist. Mr B. G. Wright occupied the chair, and about fifteen shareholders were present. The Chaiemak submitted the annual report and balance-sheet, which having been supplied to the shareholders, were taken as read. The report was as follows : — 1. Tour Directors have much pleasure in submitting the accounts for the past year. 2. Your Directors have made every effort to extend the use of gas for cooking and machinery purposes, but with limited success. 3. The present consumers express themselves highly pleased with the stoves supplied, and the general results Attendant upon their use; your Directors consequently anticipate a further development of the Company's business in this direction. 4. The amount to the credit of profit and loss, after making provision for the reserve fund, is 412,900 16s 3d, of which the interim dividend absorbed £5600. It is now proposed to distribute a further sum of .£7066 13s 4d, and to carry forward the balance, .£234 2s lid. 5. The retiring Directors are Messrs Gould, Tancred, and Wright, who offer themselves for reelection.

The Chairman continued, that in moving the adoption of the report and balancesheet, he would merely state that everything connected with the work of carrying on the Company's business has proceeded satisfactorily with the exception of the tar. The Company had the production of three years on hand. In order to find an outlet for this, communications were opened up with Sydney and Melbourne to ascertain how they disposed of their material. From replies received it appeared that the asphalting of the municipalities absorbed a large portion, and the balance was utilised by a patent brick company, which used 100,000 gallons annually. We had not arrived at such a state in Christchurch vet, but perhaps in time the tar would be utilised in a similar way here, and the streets laid down with it. Some few years ago the experiment was tried at the Woolwich Arsenal. It succeeded, and had increased in its use every year. It might be interesting to shareholders, as indicating the growth of this Company, if its present position was compared with that of the quinquennial periods. In 1868 they had 205 consumers and sold 3,576,000 cubic : feet of gas; in 1873, 405 consumers, 7,169,000 cubic feet consumed; in 1878,1026 ; consumers and 25,272,000 cubic feet sold ; and in 1883 there were 1953 consumers, the total quantity of gas sold being 46,115,000 cubic feet. This indicated the rapid growth of the business of the Company. The price during that period had been reduced from time to time from 19s in 1868 to 10a and 9s 2d in 18S3, the latter price for large consumers, and for cooking purposes it was 8s 4d. The shareholders would see for themselves how the bußinefis had extended. No doubt, the Directors would further reduce the gas wheu it was deemed necessary to do so. He> moved the adoption of the report. Mr Patjikb seconded the motion, which was carried.

Mr Cowlibhaw moved, and Mr Graham seconded—" That the Directors are hereby authorised to pay a dividend in accordance with the recommendation contained in the report." The motion was carried. ■ / On the motion of Mr Lawb, seconded by Mr igsDiEBOH r Meaars J. Gould, H. J. Tancred, andvE. G.Wriglftr the retiring Directors/were * ■■■,"■* i ; Oa-.,thft'n»tion*f<jf Ms' CowusHl'wi BA^Mfisars E. S. Harjey and Jaa. Henderson were appointed Auditors. Concerning tar, Mr Graham remarked that in France it was made into patent fuel. The Chaibxak said that some of it had been prepared for use in the furnaces. A Shabsholdeb suggested that the Company should asphalt a portion of a street, and keep it in repair to introduce such a system. The Chairman said he had spoken to the City Surveyor on the subject. The Company could not do aa suggested without the consent of the city authorities. No doubt the Directors would take the question into careful consideration. Mr J. Gould moved a vote of thanks to the Secretary and staff, who he considered had performed their duties very satisfac- i torily. The Hon. E. C. J. Stjevkns seconded the motion, which was carried. Mr Palmkb moved a vote of thanks to the Directors. The Company had made satisfactory progress, but not without earnest work on the part of the Direotora, and all had every reason to be grateful to them for their very efficient services. Mr Wbight acknowledged the compliment, after which the proceedings terminated.