WESTPORT COAL COMPANY
» (PRESS ASSOCIATION* TELEURAUS.) DUNEDIN, February 8. At tho annual meeting of the Westport Coal CompjLuy the Hon. Aliller, the chairman, having relerred to the death of the late Hon. Mr Duwnie Stewart, who was a prominent director of the company, said that the output for the year was tons, an increase of 37,000 tons over last year's output. The profit amounted to £17,2i>/, which enabled the company to pay a 7 per cent divident and start a reserve fund with £2600. Gcod progress had been made in developing the Granity Creek Aline, and by the end ox the present year the directors expected to work coal in t>he main part of the lease. The shareholders were to be congratulated on the completion of this property, which has now replaced the Greymouth mine on which the company had lost so heavily. The supplies to tno Admiralty had increased by JdJUO or 3000- tons, and there was reason to believe that the quantity would be somewhat increased in the future.
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Bibliographic details
Press, Volume LVI, Issue 10267, 9 February 1899, Page 6
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171WESTPORT COAL COMPANY Press, Volume LVI, Issue 10267, 9 February 1899, Page 6
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