ROSLYN TRAMWAY COMPANY

Evening Star, Issue 7280, 3 August 1887, Page 4

ROSLYN TRAMWAY COMPANY

The seventh ordinary general meeting of, the shareholders of the Roslyn Tramway Company (Limited) was held last evening in the Chamber of Commerce Hall. Mr N. Y. A. Wales, chairman of directors, presided. j The report (whioh we have already published) and balance-sheet were taken as read. The Chairman, in moving their adoption, said that as all the shareholders had been supplied with copies of the report and balance sheet, he need say very little, as the report 1 spolso for itself. lie tnouglit I>hoy could congratulate themselves upon having such a favorable report of the past year's transactions in spite of the existing depression. As they gained experience they were enabled to keep down their expenses. The accident account was now

reduced to LBOO, and no doubt they would all be glad when this aocount would no more appear on their balance-sheet. A dividend of 5 per cent, would be payable to the shareholders. It had been proposed to pay off LI.OOO of the loan in December, as the directors were all satisfied that arrangements could be made for a satisfactory reduction. In speaking of the reduction in the number of directors, he said that there were formerly seven, but tho directors considered that the business of the Company could be managed as efficiently if their number were reduced to six. It was therefore their duty to elect one director, instead of two as formerly. . The report was then adopted unanimously. Mr A. C. Begg was re-elected director. Mr Begg, in thanking those present for reelecting him, said that all the necessary points worth speaking of had been touched upon. As most of those present knew, he was one of the original promoter* of tho Company, and was glad to sec that things were working so satisfactorily, despite the number of difficulties they had had to contend with. Looking at tho balance-sheet as a whole, ho was of opinion that tho shareholders had every reason tobesatisMr A. Mollison asked if it would not bo advisable to call for tenders for the running of the extension line, but this proposal not being entertained favorably, the meeting terminated.