HOKIAIKA GAS COYLD

Hokitika Guardian, 30 May 1935, Page 2

HOKIAIKA GAS COYLD

ANNUAL MEETING

The 61st annual meeting of the Hokitika Gas Coy Ltd., was held at the Company’s registered office, Stafford Street at 5 o’clock yesterday aft e rn°on. Mr D. J. Evans (Chairman of Directors) presided, and other directors present were Mr S. J. Preston (deputy chairman), Mr'W. E. Williams and Dr Teichelmann. ‘ Local shareholders were present also. An apology was made for the absence of 'Mr W. Wilson (director) absent from the Dominion on leave. The 'Secretary (Mr H. W. Sweney F.CiS., N-Zd produced the public notice calling the meeting, and stated the proxies sent in were adequate tor a quoruii. The minutes of the previous annual meeting were read and confirmed. The audited accounts and necessary certificate were laid on the table. Those with the directors’ report had been circulated to the sharehoders. The following was the director’s’ report. — The Directors in presenting this report, append the usual particulars of the accounts of the Company for the past financial year, duly audited and certified correct.'

The revenue has shown some increase •on last year which indicates a further increase in the consumption of gas, and the Works Manager reports the monetary. return to the Company is statisfactory, although reduced rates have affected the .volume of income on the turnover in respect to former years. In view of all the circumstances, however, the position is quite satisfactory. The Company has the satisfaction, also, of knowing the plant is functioning well. On the occasion of the Fe;lr mnry flood which inundated portion of the low-lying parts of the town, the Gas Service was maintained intact, and consumers realised its reliability under an extreme test. The staff, under Mr Heinz, has given everv attention necessary to the plant and reticulation service. Additional expense was necessary for renewals a.nd extensions as found requisite, and a Complete overhaul of the plant was carried out by the staffassisted with extra labour. In view of the larger outgoing on plant, the loan debt was reduced by one' payment only of £IOO.

The Annual Meeting will be re " 6on*nended to pay the usual dividend of 4s on each £6 share at the customary time next month. The shareholders, no doubt, will join with the Directors in appreciating the work of the staff, both clerical and working, over the year. One Director, Dr E. ■ Teichelmann, retires; by rotation, but is eligible for reelection. The retiring Auditor, Mr R■Wild, is eligible also, for re-election. — “Received. v The Chairman moved the reception of the statement of accounts aticf report, and their adoption. The ■'Company was congrau'l.ated Op Satisfactory year ion the lines of the report. It was pleasing to know that the Company was forging ahead. and was functioning vlell, meeting all demands. Gas was being used m'ore extensively and the plant was able t 0 cope with the requirements. Useful replacement work had been carried out during the year, and the plant add reticulation were in satisfactory condition. Mr Williams seconded the motion, and remarked the growth in the consumption of gas over late years, despite competition, and the Plentiful nature of ordinary fuel for domestic purposes. The motion was adopted unanimously. On the motion of Dr Teichelmann the usual dividend was struck, payable next month. Mr Preston moved the re-election of Dr Teichelmann as a director which was carried. 'Mr Wild’s reappointment as auditor was likewise agreed to. The Chairman moved a cordial vtote of thanks t G the staff, working and secretarial, and commended the faithful servicy rendered, and the attention to the plant and all requirements. Mr Williams seconded, and endorse the complimentary remarks to the officials gopd work, and the cheerful way in which the duties were discharged. The motion was carried, and Mr. G. Heinz (Works Manager) and Mr Swenev (Secretary) acknowledged the vote, explaining details in respect to the internal wfcrkip&s of the Companv. A vote of thanks to the chair, closed the pro-

ceedings, the next annual meeting being ■fixed for the last Wednesday in May, 1936.