WELLINGTON GAS COMPANY

Evening Post, Volume CVII, Issue 21, 25 January 1924, Page 5

WELLINGTON GAS COMPANY

FURTHER REDUCTION IN PRICE TO BE MADE. ■

The annual report of the directors of the. Wellington Uas Company states that the results obtained from the. Glover West Vertical Retort Plant have proved highly satisfactory. It has been decided to extend the present installation by adding a further 16 retorts. The policy of reducing the price of gas as far as possible has been continued. In January ,1923, a reduction of fourpence per 1000 cubic feet was made, and a second reduction ■' of threepence per 1000 cubic feet took effect in September. A further reduction of threepence per 1000 cubic feet is to be made as from ■ Ist March,-1924. After payment of the interim dividend of 3^ per cent, on the ordinary shanffl, the year's dividend on the preference shares, and after providing £16,330 6s 7d for depreciation of plant, buildings," and "machinery, ako £1000 -for depreciation reserve, the ■profit and loss balance amounts to £33,----627 4s 9d, which it is proposed to appropriate as follows:—Pay a fukher dividend of 4j per cent, (making 8 per cent, for the.) year), absorbing £12,546 ,9s, an4oto carry /.forward the balance of £21,080 15s 9d';' Mr. Gerald' Fitzgerald and Dr. C. P.rendergast Knight, directors, retire from the board by rotation, but, being eligible, offer themselves for re-election.