MANAWATU RAILWAY.

Manawatu Standard, Volume XLI, Issue 8537, 18 March 1908, Page 8

MANAWATU RAILWAY.

ASSETS OP THE COMPANY. The report which the directors of (he Wellington and Manawatu Railway Company will present to the twenty-seventh annual meeting of shareholder's, which is to be held on the Ist pro:;., states that rhe gross earnings of the railway for the year ended Fcbiuaiv 23th amounted to £150.550 10s 7d, being £15,913 greater than for the previous year. Land was sold during the vear "to the value of £18,719 18s 2d. * The directors recommended a dividend of 4 per cent, for the half-year, making (with interim dividend paid in September last) 7 per cent, for the year on the paid-up capital of tho company. As shareholders have already been advised, tho Government gave notice on December 7th of its intention to purchase the railway in twelve months in terms of the Act. Messrs Blair and Strang are the retiring directors, and, being eligible, they offer themselves for re-election. Nominations must be left at the company's office seven days at least previous to the meeting. Messrs Kember and Son and D. T. Stuart, the retiring auditors, offer themselves for re-election. In view of the early acquisition of the company's property, th ©following list of the assets, extracted from the balanceshoot, is o finterest (shillings and pence omitted): — £ Railway and rolling stock ... 1.047,181 Less written off 218,805 Total ... 828.376 Freehold lands 8,995 Balances due by land purchasers 44,190 Debentures purchased and accrued .interest ... ... 63.88.3 Deposits and accrued interest 94,043 Sundry debtors 5,065 Railway stores 10.727 Cash balances 31,232 Total ... £1.086.520 The capital is nominally £1.000.000. Of this £850.000 is subscribed in 170,000 shares of £5 each. These shares are paid up to the oxtont of £1, and there are debentures amounting to £680,000. Of the total number of shares. 80.525 are on the London register and 89,475 on the Wellington register.