DUNEDIN AND KAIKORAI TRAMWAY COMPANY.

Evening Star, Issue 12166, 9 April 1904, Page 7

DUNEDIN AND KAIKORAI TRAMWAY COMPANY.

. « The ninth annual general meeting of the Dunedin and Kaikorai Tramway Company was held, in the Roslyn Council Chambers last evening. Mr H. V. Haddock (chairman cf directors) presided, and there was a gcod attendance of shareholders. The Chairman, in moving the adoption of the annua) report and balance-sheet, said that it was not necessary for him to say very much; everything bad been so satisfactory in the past year. With respect to the 2*272 shares sold, the amount realised, as the report stated, was used for the purpose of increasing buildings and plant and lolling stock. The additions were now in a forward state. The car-shed was complete, and the turn-table in position. The new car, he believed, would be up next week, and about the same time the boiler would be on the ground. The foundations were being gone on with. In a short time the company would possess one of the most up-to-date 'plants in the colony. In the balance-sheet the item of buildings had been increased since last year by about £6OO. This was a payment of £6OO on the new tram-shed. With respect to the profit and loss account, it might appear that "maintenance and repairs" were pretty heavy as against last year's return, but this was caused by adding to the maintenance account tho depreciation on rope and tools and other items, amounting to nearly £3OO. Last year the item, amounting to £2lO, was put separately. The wages had increased slightly owing to the Arbitration Court award. Altogether, the results had been very satisfactory. They used to growl and ask for this and for that, but such was not, the state of things this year. The debit balance of the profit and loss account had been reduced from £1,400 to £22. This was aft;r paying a 6 per cent, dividend for the twelve months. He considered it wise, in the interests of shareholders, to pay a dividend during the year, and he hoped that next year the dividend would be even larger.—(Applause.) Mr J. Wedderspaon seconded the motion. Mr A. Sligo, in supporting the motion, said that the directors as • a whole were thoroughly satisfied with their manager, who bestowed great care and attention to his department. The motion was then carried unanimously. Messrs A Ferry and E. Roberts were reelected directors, and Mr P. Barr was reappointed auditor. Mr Sligo moved a vote of thanks to the general manager and the staff for their services during the year. Mr J. A. D. Adams seconded the motion. He said that he was one of the most frequent travellers on the line, and he would take the opportunity of recording the fact that he had never found a more obliging and courteous set of men than the Dunedin and Kakorai Tramway Company's employees.—(Applause.) The motion was carried by acclamation. Mr Sligo said that it had been decided to take advantage of that occasion to recognise in a substantial way the services Mr Haddock had rendered to the company. They all knew the work their chairman 4iad clone in the promotion of the company, especially in their years of trial and difficulty, and it now gave him much pleasure, on behalf of the directors and a number of the shareholders, to present to Mr Haddock a silver salver and a purse of sovereigns.—(Applause.) The salver, which was of solid silvei and artistic design, bore the following inscription :—*' Presented to H. V. Haddock, Esq., in recognition of valuable services as chairman of the Dunedin and Kaikorai Tramwav Company, Limited, 1896-1904. Dunedin, Bth April, 1904." Mr Haddock thank? d the donors for the honor they had done him. When he took part in the scheme for the new line in 1894 he looked for no remuneration, and expected none, making his duties a labor of love, as the other directors did. He was pleased, of course, that the success had been so great. In the future all he could do for the welfare of the company he would do.—(Applause.)