GROWTH OF THE GAS COMPANY

Dominion, Volume 13, Issue 123, 18 February 1920, Page 3

GROWTH OF THE GAS COMPANY

FIFTY YEARS OF PROGRESS SOME INTERESTING HISTORY The Wellington Gas Company, Ltd., celebrated its jubilee this year, and Bome interesting details regarding the Past history of the concern were supplied bv Dr. C. Prendergast Knight, chairman of directors, at llio annual meeting of shareholders yesterday. "As I indicated at the opening of my Remarks," ho said, "this year is the iubileo of the company, and it may not bo uninteresting to make some reference to,the growth and development of tho company from its inception in 1869.. I need hardly remind you that fifty years ago Wellington was a very small community compared with what it is to-day. The population of the city was then nbout SOC-O. It is now about 80,000. Tho city had practically no industries. Communication with tho outsido world was difficult and limited, and uncertain. Gas works were unknown, and electric undertakings, to say nothing about telephones and wireless telegraphy, were undreamed, of.. But. notwithstanding tho absence of these familiar adjuncts of modern times. Wellington was by no means devoid of men of vision, who saw clearly into the future, and knew that Wellington would at_ no distant date rise to prominence as' a great commercial and industrial community. Of these were the men who founded' tho Wellington Gas Company. "According to the records of the company. tho first meeting of the promoters was held on December 13, 18159. The initiating of the project was undoubtedly due to the foresight and energetic personality of Mr. J. Rees George, who at that time was well known in the city as on engineer whoso first local work was the erectbn of the Queen's Wharf. As. Gociated with Mr. George were men whose names will always be identified with the •progress of Wellington, but whose'personalities hjive now become only a memory. Prominent amongst these were: C. J. Pharazvn, W. T. L. Travel's, F. .A. ilvrull. Edward Pearce, W. H. Levin, apd .1. E. Nathan, all of whom, with the exception of Mr. Edward Pearce, who, I way sav, is still living in England at the ripe old age of eighty-seven, have long since passeil away. The Provisional Board of. Directors consisted of Messrs. W. B. Rhodes, C. J. Pharazvn, J. Johnston, P. A. ICrull, and T. M. Stewart. Of theso only Messrs. Fharazyn, Krull, and Stewart were elected at the first meeting of shareholders, the other two elected being Mr. Edward Pearce and Mr. A. P. Stewart. Mr. C. J. Pharazyn was the first chairman of the company, and Mr. J. R. George the first manager and engineer.

"The erection of the works, which was carried out under the supervision of Mr. George, was completed in the early part of 1871. and Wellington was first lighted by gas on April 21, 1871. At this time the capital of the company was <£10,000, which was raised to .£20,000 in the following year. "Since then the progress of the company. although it. has had more than one nwiod of stress, Ims, on the whole, been one of steady progress and develop- . nient. It was once thought that the ndvent oE electricity meant the speedy extinction of gas, and when electric light was introduced into Wellington there •were many who confidently , prophesied the end of the Gas Company and all its •works. But, notwithstanding the progress of electricity, gas still moro than maintains its position as a great public necessity, and there are no signs that ns time eoes on the development of the Eas industry will suffer any declension. "What this progress has been in connection with the company may, I think, Tip indicated by a few figures, and for this Durnose the fifty years of the company's history are.divided into periods of , -ten vears:—In 1880, that is ten years after the company was inaugurated, the nominal capital was ,-£100,000; in 1890, it Was ,£200.000; in 1900, .-£200,000; in 1910, UMOO.OOO; and in 1920, .£550,000, in addition to 150.000 preferences, shares of XI each. T '■ "In respect to gas consumption;—ln JBRO the sale of gas was thirty-seven million cubic feet. In 1890 it was 65 millions. llt is interesting to remark thnt this was the vear when the electric light was first introduced into Wellington.) ..In 1900 it. was . 110 millions; in 1910. .280 millions, and in 1919, 4-12 millions. These are some of the salient features connected with the company's' half-century of history. On the whole, it has been ft

period of continuous progress. _ The company has grown, as-the city it supplies lias erown. to strong and vigorous manhood. and I think we may well say .that the company's progress lias justified the exneclations of the men who laid the foundations of its prosperity fifty year 3 RIO." ".