THAMES GAS COMPANY.

New Zealand Herald, Volume XXIX, Issue 8814, 1 March 1892, Page 5

THAMES GAS COMPANY.

HALF-YEARLY MEETING.

The Half-Yearly General Meeting of the Thames Gas Company was held yesterday forenoon at the office of the secretary, Mr. F. A. White, Government Insurance Buildings, Queen-street, Mr. C. B. Stone in the chair. The minutes of last meeting were read and confirmed. This being the interim meeting, there was no directors' report. The secretary read the half-yearly statement of accounts and balance-shoot as follows :—

Working Account.To coals and shale, £349 Is 5(1: wages, £145 12s , wear and tear, £88 Is (i<l; salaries, £225-£BO7 14s lid. _ To general expenses: honorarium, £50; auditor, £4 4s ; property tax, £42 10s 8d ; license fee, £12 10s; rates' and taxes, £48 2s 4d; miscellaneous, £78 Is lid; insurance fund, £14 18s—£250 6s lid. To balance, £605. Total, £1663 17s lOd. By gas, £1462 13s 9d; residual products, £130 15s 3d; interest, etc., £70 8s lOd ; total, £1663 17s lOd. Profit and Loss Account.—To dividend, Bth September, 1891, £582 5s 8d; balance, £710 7s Id: total, £1322 12s 9d. By balance, 21st July, 1891, £716 16s 9d. Working account, as above, £605 16s. Balance-sheet.—To capital, £18,965 16s ; reserve fund, £891 2s lOd; insurance fund, £356 19s 6d; dividends unpaid, £7 9s 10d_: profit and loss, £740 7s Id : total, £20,961 15s 3d. By land and buildings, £4700 Is 3d ; plant, £11.525 18s3d; stock, £717 4s; investments, £2808 10s 3d; office furniture, £75; debts due to company, £235 lis; cash in bank and in hand, £899 10s 6d : total, £20,961 15s 3d.— have examined the books and accounts of the Thames Gas Company (Limited), and certify that the balance-sheet now presented a full and correct statement of the affairs of the company.George Fraser, public accountant, auditor.

The manager's report was as follows : — Gentlemen, —I beg to report that during the half-year 2,568,410 feet of gas has been made, and 3.359,500 feet registered on consumers' meters ; 45,000 feet consumed on the works ; leaving 163,000 feet unaccounted tor, or leakage. The quantity of gas sold for the same period of last year was 2,450,000 feet, showing a decrease of 90,000 feet for this halfyear. The number of consumers remain about the same, but owing to the present dulness of mining and trade, consumers are more economical with the gas 276 tons of coal and 16 tons shale have been carbonised. The yield of gas per ton of coal has not been so good as usual, partly because we have been using more slack coal, and also because I have been adding about two tons of coal to each monthly statement, as I found we were short in stock, caused by weighing the coal out in small quantities, and from loss of moisture. 97 tons of coke and 3,300 gallons of tar have been available for sale ; the stock of coke is accumulating, and we will most likely have to reduce the price, but there has been'a better demand for tar this summer. 250 yards of new main pipes have been laid down in Abraham-street to supply Price Brothers and two other consumers. We have also erected a meter store aud workshop, at a cost of £40 for material. The plant and buildings are in good order.— Robert Wilson*.

The Chairman, in moving the adoption of the report and balance-sheet, said lie need nob add much to their manager's report, but he thought they might well congratulate themselves 011 the fact that the directors were able to recommend the payment of the usual interim dividend in the face of the state of tilings which has prevailed for some time. He was at the works last week, and found everything in first-class order. There was nothing in the way of losing the ship for the proverbial pennyworth of tar, and the manager was not stinting the works in order to pay them their usual dividend. They had to congratulate themselves on being able to pay a dividend, for it was not every business which paid any dividend at all. Though the manager reported a slight decrease in the consumption for the last half-year, the outlook during this month was better, and it looked as if there would bo an improvement. He had great pleasure in moving the adoption of the report and balance-sheet. Mr. R. Walk Kit seconded the motion, and it was carried unanimously. The Chairman announced the dividend of Is 2d per share, equal to about 6 per i cent, on the paid-up capital would be payable on .Monday, tho 7th inst. 1