THE MANAWATU RAILWAY.

New Zealand Mail, Issue 1204, 29 March 1895, Page 34

THE MANAWATU RAILWAY.

The report of the Wellington and Manawatu Railway Company (Limited), to be presented at the 14th annual meeting, to be held at the Chamber of Commerce on the 3rd prox., is as follows: —" Your directors in submitting for the approval of shareholders the statement of receipts and expenditure and balance-sheet for the year ending the 28th February, 1895, are confident that the results shown will be considered satisfactory. The gross earnings of the railway were .£91,779 12s 2d. The land revenue was .£3342 12s 2d, and refunds of taxation £662 8s 6d. Land »as sold during the year to the amount of £6911 16s 2d. The profits on the year's transactions justify your directors in recommending the payment of a dividend of 6 per cent, per annum on the paid-up capital of the Company. During the year Mr Pharazyn, owing to his proposed absence from the Colony, resigned his seat as one of your directors. Your directors much regret the loss of his valuable services. To fill the vacancy thus occasioned Mr D. J. Nathan has joined the board. Messrs Plimmer and Izard are the retiring directors, and, being eligible, offer themselves for re-election. Messrs Kember and Stuart, the retiring auditors, also offer themselves for re-election." The balance-sheet is as follows :

Dr.—Liabilities : To capital—London register, 114,262 shares, and Wellington register, 55,738 shares, £170,000; debentures, £680,000; sundry creditors, £3184 8s lid; debenture interest accrued, £BSOO. Balances available for dividends, as per balancesheet, 28th February, 1894 (£23,536 lis 2d), less dividend for year at 6 per cent. (£10,200), £13,336 lis 2d ; railway account —net profit for ended 28th February, 1895, £8304 3s 9d; land account—net profit for year ended 28th February, 1895, £1962 10s 9d: total profit available for dividends, £23,603 5s Bd. Not available for dividends : Laud account—As per balancesheet, 28th February, 1894, £29,926 2s 9d ; net profit, year ended 28th February, 1895, £4127 10s 2d : total profit not available for dividends, £34,053 12s lid. Total, .£919,341 7s 6d.

Cr.—Assets: By railway and rolling stock, .£771,684 5s 6d; allocated freehold and leasehold lands, £79,389 12s 7d; balances due by land purchasers, £57,360 15s; sundry debtors, £5168 17s 6d; railway stores, £5153 19s 3d ; office furniture, £213 12s 8d ; cash balances— Wellington ("£241 Is 8d), London (£129 3s 4d), £370 5s : total, £919,341 7s 6d.