GISBORNE GAS COMPANY, LTD.

Gisborne Times, Volume XXVI, Issue 2122, 22 February 1908, Page 3

GISBORNE GAS COMPANY, LTD.

annual meeting. Tlio 23tb annual general mooting of , i £• i , r .io Gas Company. Limited, wa e s held at their offices., at the works, last evening- . . , , , Captain Thos. C lirisp presided, and ii. A-n wore present Mis. Clirisp, Jucs‘H j. Hushnell, E. J. Clirisp, J. rp Evans, P. McLoughlin, Geo. Mattbe'vson, John Townley. A. Cuthbcrt, E. T. Alarr, and \V. S. Lunu. The minutes of the last meeting were read and confirmed. The bal-ance-sheet and directors’ report were presented, and the report read as follows: —“In presenting their annual report and balance-sheet, your directors congratulate the sharehold-'--ers on the success which has attended the operations of the company during .1907. The gas consumption shows an increase of 1-1.12 per cent, over 1906, and 101.53 per cent, over that of four years ago. The value or the freehold property has materially increased, hut it jstill appears in the company’s books at the original price paid for it. The plant his been kept in thoroughly good order. During the year several milts of mains have been laid in the rapidly rising suburbs adjoining the town, and are all self-supporting. The year’s prolits amount to (including share premium) £3691 -Is 3d, out of which an interim dividend was paid, the balance, adding amount brought forward from last year, leaves £6362 5s Sd available for distribution, and your directors. now recommend the payment of a dividend of Is 6d per share, the placing of £IOOO to reserve, and carrying forward the balance.’’ AYnen moving the adoption of the report and bafance-sheot, the chairman stated that it gave him great pleasure to do so on this occasion, and as it was the twenty-fifth year of the company's operations, lie quoted . statistics showing the progress ot the company since, its initiation, and the shareholders present expressed their appreciation of the results. The dividend recommended and the other proposals of the directors were carried unanimously. The retiring directors, Messrs. Thos. Clirisp, Geo. Matthewson, and E. J- Clirisp were re-elected. Messrs. J. H. Evans and H. M Porter were re-elected auditors. At a subsequent meeting of directors, Captain Thos. Clirisp was reelected chairman for the ensuing year. . , .. , A unanimous vote ot than its warpassed to the staff for the services •rendered by them during the past year.