MANAWATU RAILWAY COMPANY.

Mataura Ensign, 18 March 1909, Page 3

MANAWATU RAILWAY COMPANY.

A .SATISFACTORY POSITION. I'KI-l OMTIiD I'ltlSSS ASSOCIATION. WELLINGTON, March IS. The linal report and balance-sheet of the Wellington and Alanawatu Kailway Company was presented at tho annual •iieetiug held at noon to-day. Tho Chairman staled that alter allowing for .ill outgoings there were balances in iVellington and London totalling lM,'jl),-lU". Shareholders still had freei;old lauds at Thorndon takon in at •€10,260. The balances due by land purchasers on mortgage w( vo £'2(i,2B-l; del!nsit.s and accrued interest, £36,512; md Wellington Corporation debentures, K)7r.», which, together with tho cash oaiaiices referred to, made the total

assets .WEUtsr. Tlie only liabilities .ither than shale capital were sundry creditors (£62(53;. Tho estimated cost of liquidation was sel down at £2OOO. The position disclosed by tho balancedied warranted the luinotincement that an early distribution by liquidators of ■lis per share should be made and, provided tho remaining assets could be realised upon satisfactory terms, » further dividend of 4s Gd or possibly os per diaiv might be looked for.