Wellington and Manawatu Railway Company.

Hawera & Normanby Star, Volume XVIII, Issue 3093, 6 April 1892, Page 3

Wellington and Manawatu Railway Company.

. ♦ (PER PRESS ASSOCIATION.) WELLINGTON, April 6. . V £t : W'anriiaal meeting of tbe Welling-ton-Manawatu Railway Company today, tho report (whioh recommended payment of a dividend of five per cent.) and balance sheet were adopted. In his address, the chairman of akeotorrsaid lie thought he was justified in asserting that tbe continuous and progreasite inorease in volume ofrtraffio on. the company's line was without parallel in the railway reoords of New Zealand. Tha receipts showed an inorease in five years of over 73 per cent. - Under the new systemof taxation, tbe company would pay £46& 1b Id less than previous years. The immediate effect on the finance oi the Colony, of the ohange of incideijce ,of taxation would.be very small, much 1 less than the direotors expected When the Premier, in moving the second reading 6f-thd Land and Income Assessment Bill, obßetvedl that the tax on income would be fairor and less burdenBomeon,one raiLway in the Colony, which waa the? paying! an utterly unfair contribution under property tax.