WESTPORT COAL COMPANY

Evening Star, Issue 19722, 24 November 1927, Page 6

WESTPORT COAL COMPANY

THE ANNUAL MEETING The annual meeting of the Westport Coal Co., Ltd-, was held in tho New Zealand Express Company’s board room yesterday, there being a good attendance of shareholders. In submitting tho report and balance-sheet for the year ended September 30, tho chairman, Mr G. L.: Denniston, spoke hopefully of the prospects. of tho company notwithstanding the keen and growing competition from new mines, as well as from oil and hydro-eleßricity, The tire which broke out last year in a section of the. Granity Mine was still burning, and giving considerable anxiety, though it wa® confidently expected to successfully cope with' it eventually. The cost of this work was the main cause of tho diminution of profit in the coal account. The subsidiary branches of tho business, however, had done very well, and the directors were pleased to bo able to recommend a further distribution of dividend, making 10 per cent, for tho year. ‘ . The directors’ proposals were accepted, and after the re-election of th<, retiring directors (Messrs -6. L. Den niston and Crosby Morris) and of , th< auditors (Messrs Statbam and Hislop), the meeting terminated the usual vote ofthanks*