WELLINGTON GAS COMPANY

Nelson Evening Mail, Volume LXXII, 18 January 1939, Page 2

WELLINGTON GAS COMPANY

£27,225 PROFIT FOR YEAR lUuited Press Association l WELLINGTON, 17til January. The net profit of the Wellington Gas Co., Ltd., for the year ended 31st December, 1938, amounts to £27,225, as against £27,161, for 1937. A final dividend at the unchanged rate of 4 per cent, has been declared. The directors report that after the payment of an interim dividend of 4 percent, on ordinary shares, the year’s dividend on preference shares, and providing for depreciation of plant, buildings, and machinery, the balance to the credit of the profit and loss appropriation account amounts to £730,699 12s 8d Tt is recommended that this sum be appropriated as follows: To payment of a further dividend of 4 per cent, for the year of £711,152* Bs, and carry forward the balance of £19,547 4s Bd. During the past year two miles of new mains have been laid and 1,188 services fixed, and there has been considerable capital expenditure for additional plant and buildings. The directors record with deep regret, the death of their esteemed colleague, Sir Harold Beauchamp, on sth October, 1938.