NAPIER GAS COMPANY.

Hawke's Bay Herald, Volume XXI, Issue 5342, 28 March 1879, Page 4

NAPIER GAS COMPANY.

A meeting of the shareholders of the 1 Gas Company was held yesterday at the , Criterion Hotel j 15 shareholders were present, Mr J. Close in the chair. The following report and balance-sheet were read by the secretary, Mr J. B. Fielder : — The Directors, in submitting the Fifth Annual Accounts of the Company to Shareholders, have much pleasure in testifying to the increase in its business during the past . year.. As will be observed from the Accounts, -a profit of £1,285 15s 2d has resulted from the ■ operations of the Company during the past year. Debts owing from the.qpmmehcement ' of business to the end of last bear amounting to £106 8s 5d have been struck off as bad, thereby reducing the profit to £1,179 6s 9d, which amount, with the balance from the last account, shows a total to credit of Profit and Los? Account of £1,323 10s lOd. A large increase in the revenue has been derived from the consumption of gas. This : ; has resulted from the extension of the mains >_-! as stated as last report. Forty '10116 new. services have been laid :6n. during the year. • , . , ' ■\> '• Since the close of the last fiaancial yeJ&r ; ' the mains have been extended along Brewster Street, Shakespeare Terrace (off Cameroii' Road), and from Emerson Street to the\ Railway St/ation, of the total length of \ twenty-four chains. Should sufficient con- -^Jk snmers be obtained, they will be* extended-; 'j_>along Shakespeare Terrace [ and Roslyn Road. •

The new Tank, and holder of the capacity of 19,000 feet has been erected at a cost of £1,360, and is now in use. Owing to tho-large overdraft at the Bank your Directors do not feel themselves 1 justified in recommending the payment of a dividend. " 'J If such a course \ was ' deemed advisable, it t would be necessary to make a further call, which at present they do not think would meet with the approval of a majority of the Shareholders. The income of the present year will reduce the overdraft ; and, as no extraordinary expenditure will be required;, oh the works, it is probable that a Dividend will be declared at the next Annual - : Meeting. ' , - . . /' Owing to the resignation, through pressure of private business, of Mr Alexander Kennedy of his position as Secretary of the« Company, the Directors have appointed Mr I. J. B. Fielder to that office.

It was found necessary to make a change in the Managership of the Company, and the services of Mr Charles H. Edwards, late of the Sydney Gasworks, have been secured, which change, it is hoped, will prove advantageous to the interest of the Company. A. Wardrop, Esq., has been elected a Director in place of Jamss Watt, Esq., resigned. Messrs Newton and Rhod-3 are the Retiring Directors, who are eligible, and offer themselves for re-election. - ■• , John Close (Chairman f of Directors.) Napier, March 18th, 1879. STATEMENT OF ACCOUNTS OP THE NAPIER GAS COMPANY, LIMITED. " * For the Fifth Year Ending 31sfc January, 1879. BALANCE SHEET.

J. B. UEiiDER (Secretaiy). 1 certify that I have examined the Books and Accounts of this Company, and certify that these Accounts exhibit a ".full and correct Statement of the affairs of the Company. — Wm. Smith (Auditor). Napier, March 15th, 1879. The report and balance-sheet were adopted. . A resolution for making a further call of £2 per share, £1- payable next month and £1 payable in October next, was put and lost. •. .

Messrs Newton and Rhodes the retiridg directors, were re-elected. After some discussion as to the declaration of a dividend, it was resolved that the next balance-sheet be made up to tho 30th June next, and that the general meeting of shareholders be held as soon as possible after that date. Mr W. Smith was re-elected auditor.

A vote of thanks to the directors brought the meeting to a Close.

not remember the month. As far as Iremember, it was before the races at the Little Bush. The sale of the horses at Hastings was after. When Airini came to me she told me I should buy Otupai, ~ as he was a good horse for the races. I * consented to° buy him; Thero was nothing said about the price when this conversation took place. Nothing more was said at that time. Thero was some conversation about the horse when Karma and Airini cameto my house. They told me that I should buy the horses. Otupai was the first horse mentioned, and after that Tawera. I then turned round and told Karma, " Very well, you shall go and bid for me at the sale." I told him to «ive £200 or £300 for Otupai. Amrn and Karma then said to me. Never mind if the price should run up to £1000, or £200 over £1000, you buy them. This meant to include the price of both horses. I did consent to that because • my nephew and my grandchild had persuaded me to go over the amount that was aheady feed That was all that was said then There was some talk after the sale of the horses. I heard something from .a^p^XboihMßorißaiid white men, and I a P sked Karma, -Is it true you have been paid by Donnelly." Donnelly was my servant at that time i^f at Omahu. I knew that Otupai and Tawera belonged to Donnel by. Atjfr s time I had perfect ~ nfi *^ ™ i^ Karma, and Donne ly. . I I for one horse-Otupai. Aft b e F™ t J mid -PSOO for the other. 1 objected to my the £500 for a long time. I objected tothe Payment of both these horses on accSinnfwhatlheard from white men andMaori^hat I was paying too much m0 By y jkr Cornford : I bought the horses for myself. I did not give Airini £700 to pay for Otupai. Ido not know the day of the week on which the sale was held. Donnelly was living with me at Omahu at the time that Airini spoke to me about the horses. He was living in my house. He [ slept in a little room adjoining the parlor. Donnelly was looking after my sheep at the time. The sheep were at Patea. I bou»bt the sheep some time ago from the Rev>Vlr Williams. I have bought from oth_r people since. I did not give £700 in notes to Airini to pay for Otupai. I gave them to Donnelly, who was the owner of the horses. If Amm had been the owner of the horses I should have given the money to her. Ido not know how I could have sent Karma to fetch Donnelly the Sunday after the sale, as Donnelly was then stopping at my house. Ido not know the day I gave Donnelly the £700. When I got the horse I gave the money for him. I don't remember PaoraKaiwhata, Karma, and Pene te Ua bein" at my house the day after I bought the horses. . I do not remember telling them I had bought the horses. I remember sending for Donnelly to speak about the sheep. 1 do not remember ' saying to Donnelly on that day that he should be paid for Otupai next day. I do not remember saying to Paora Kaiwhata and Peue te Ua how pleased I was to get the horses. I did not see Pene teUaon the day I bought the horses All my wives were present when 1 paid Donnelly the £700. I paid him in notes. I did not receive any letter about Otupai and Tawera, Donnelly, and Karma, from a person whom I did ndt know. I may have told Mr J. P. Hamlin that I had received such a letter, but I don t remember I never saw a letter about Karma and the £40; it was from a person's mouth I heard about the £40. I know Haromi te Ata. Does she belong to your people that I should not know her 1 I never told her I had received such a letter. I heard of my horses racing at Rangitikei. I remember Mr J. P. Hamlin coming to my house at Omahu several times. Ido not remember him coming just after I had heard of the horses having been running at that place. I don't remember talking to J. P. Hamlin in January, 1878, in my parlor at Omahu, .about the 'running of my horses Otupai 'and Tawera. i The case was then adjourned till 2 p.m. next day.

Dr. £ a d To Capital (on 14G4 share 3, £8 paid) - 11,712 0 0 Bills payable 435 15 0 Liabilities 217 5 2 National Bank (overdraft) - - 2,144 10 9 Profit an* Loss Account - - - 1,323 10 10 ' • Total - - - - - -£15,833 1 9 Cr £3d £ s d By Land 320 0 0 Legal charges fordced - 3 8 0 — _*_ 323 8 0 Plant including Mains, Meters, Holders, Buildinns, Tools, and Materials in stock* - - 14,047 12 3 Calls overdue - - - 15 0 0 Office Furniture - - 45 10 0 Debts due to Company— For Gas - - - Gl 17 0 For Products, Services, &o. - - - - 53 15 0 -■ ! 115 12 0 Cash in hand - 0 10 Coal and Lime in Stock - 685 12 0 Total - - - £15,833 1 9 * Including £1360 cost of new holder, £522 transferred from fitting Account to Plant Acccmnt, and cost of piping laid down as per Keport. I'ROFIT AND LOSS ACCOUNT. Dr. . „ £ s d To Cost of Coal and Limo - . - - 2393 C 8 Wages - - - - - 857 18 10 Secretary's Salary - - - 183 6 8 Auditor's Fee - - - -550 Insurance - - - 22 4 6 Interest 118 14 7 Stamp duty on License- - - 710 0 Rent of Section No. 509, (one yeaty 10 0 0 Miscellaneous: including Printing, Stationery, Advertising. Kates, &c. 203 6 7 Debts owing from commencement of Company, now written off as bad - 100 8 S Balance profit - - - • 1323 10 0 Total .... £5231 12 1 <* * s d By Balance 31st January, 1878 - - 144 311 Gas rates and Meter Bents -. - 4124 13 5 Eesidual Products' - - - 276 4 10 Sundries - - - - 0 17 11 Stock of Coal and Lime - - 685 12 0 Total - - - £5231 12 1