THAMES GAS COMPANY.
Tub third annual meeting of this company was held yesterday, in their offices, Short-land-street. On the motion of Mr. W. C. Wilson, Owen Jones, Esq., was called to the chair. —The secretary read the notice convening the meeting and the minutes of the last annual general meeting, which were confirmed. —The secretary read the following report:—
In placing before the shareholders their third annual report, the directors are gratified in being able to accompany it by a satisfactory balance-sheet and statement of z.'jcoHnts. Tt- will b'- seen by the latto" that the convoy's business has steadily inipiir/ jd, .net profit for the half-year being £1,143 2s 7d. Out of this ic is proposed to appropriate the sum of £1,122 19s Cd to the payment of a dividend of 2s 3d pershare, being equal to G per cent, for the half-year, and leaving a small balance to carryforward to the next account. At the last half-yearly meeting the directors did not make any reference to the continuance of their honorarium of £250. They were prepared to give dieir services gratuitously, unless the business should provide a fair return to the shareholders for their investments. This having been fully accomplished, it is now proposed to grant the sum of £125 as the annual honorarium of the directors, commencing from 31st January last. In accordance with the Articles of Association, Messrs. W. C. "Wilson and "William Earl are the directors who now retire; they are eligible, and are candid£>tes for re-election. It is also necessary to elect an auditor.—For the directors, "William Earl, Chairman.
Balance-sheet.—Dr.: To Capital—Amount of calls on 9,9B2,'shares, at 3S?, £18,965165: dividendsnot yet applied for, £74 Ss; profit and loss, £1,143 2s 7d: total, £20,183 6s 7d.—Cr.: By freehold land, £837 16s lOd; buildings, £3,733 8s Gd: plant, including mains, meters, services, and sundry surplus stock, £13,611 Ss 4d; stock of coal, &c., i.'S7O lis 3d: stock of residual products, £39 13s 4d: debts due to the company, £141 5s Grt; gas, 18th to 31st July, not collected, £198 12s (id; office furniture, £149 ossd; cash in hand, £11S 15s Sd; cash ill bank, £127 14s 3d: total, £20,183 Gs 7d.
Profit and Loss.—To dividend of Is 6d l er share on 9,952 shares, declared °.Sth February, 1874, £748 13s: coal, &c., £528 3s 10d: stokers' tvagi-s, £200; salaries. £232 Cs 8d; general expenses, stationery, printing, stamps, advertisements, &c., £85 13s lid; balance, £1,143 2s 7>l: total. £2933.—Cr.: By balanco brought forward, £701 9s Id: gas, £2,027 5s 3d; residual products, £1495s 8d: total, £2.938. —Kowaed Lk\vrs. Secretary.—Auckland, 31st July. 1874.
I have examined tho bonks and accounts of the Thames Gas Company (Limited), and certify that the balance-sheet now presented exhibits a fall and correct statement of the affairs of the company at 31st July, IS74.—George Fkaser, Public Accountant, Auditor.—Auckland, 14th August, 1874.
—The Chairman, in moving the adoption of the report, said the company was in a most flourishing condition, as shewn by the fact that the directors were able to declare a dividend of 6 per cent, upon the half-year.— Mr. A. Boardman seconded the motion for the adoption of the report, which was carried unanimously. Election of Directors.—On the motion of Mr. Howard, seconded by Mr. Bleazard, Mr. W. C. Wilson and Mr. W. Earl, the directors retiring under the articles of association, but being re-eligible, were unanimously re-elected.
•AUDITGE.—On the motion of Mr. W. C. Wilson, seconded by Mr. P. Dignan, Mr. George Fraser was re-elected auditor. The Chairman announced that the dividend would be payable at tlie office of the company on the 7th September next.
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Bibliographic details
New Zealand Herald, Volume XI, Issue 3995, 1 September 1874, Page 3
Word Count
605THAMES GAS COMPANY. New Zealand Herald, Volume XI, Issue 3995, 1 September 1874, Page 3
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