PALMERSTON NORTH GAS COMPANY.

Evening Post, Volume XLVII, Issue 57, 8 March 1894, Page 4

PALMERSTON NORTH GAS COMPANY.

Tho second annual meeting of shareholders in tho abovo company was held last evening in tho Chamber of Commerce, tho Hon. Robert Pbarazyn, M.L.C., in the chair. Tho report and balance-sheet (already published) were adopted. Tho Chairman, in moving thoir adoption, said the dividend was eortainly small, but that was dno to tho fact that tho oxpendituro on now plant had been heavy, and this had increased the amount of intorest tho company had to pay by -£397. The overdraft had, however, been reduced from £4878 to £4331. The now plant had only boon in operation for a few months, and a larger quantity of gas per ton of coal would bo obtained later on. Tho returns were not so satisfactory as they oould desire, and as tho largo moter was out of order they had no data, to go upon as to the actual production, and therefore tho proposod investigation had to be postponed till the meter had boon repaired. This would cost .£4O or .£SO. Thoro was a probability that tho prioe_ of coal would be reduced during the coming years. That results were not now as good as expected, was not the fault of the Board. Palmorston, however, was growing larger each day, and thereforo there was every prospeot of groator consumption. The roduction in tho price of gas had given great satisfaction. Dr. Collins sooonded the motion. Mr. H. Kember wus re-elected Auditor. On the motion of Mr. J. Marohbanks, seconded by Mr. T. W. Simpson, it was docided "That tho thanks of tho shareholders be convoyed to the dirootors for thoir past services." The Chairman, in acknowledging tho complimont, paid ho should like the names ot Mr. A. H. Truobridgo (Secretary) and the officers of tho company included in tho voto of thanks. The Secretary had proved himsolf a most zealous and efficient officer, and in not a few instances had saved the shareholders considerable sums of money ; and tho manager and working staff had worked well. Ho was exceedingly pleased with what ho saw of the recent improvements. The mooting then closed.