PALMERSTON NORTH GAS COMPANY.

New Zealand Mail, 22 March 1900, Page 45

PALMERSTON NORTH GAS COMPANY.

The eighth annual meeting 7 of the Palmerston North Gas Company, was held ; on Friday. r , , Dr Collins, chairman of directors, moved the adoption of the report and balancesheet. He said he thought the anticipations of the directors that the reduction in the price of gas to 10s per 1000-feet for lighting and 7s 6d per 1000 feet for cookers would result in an. increase of business had been realised. During the year there ihad been 00 new consumers and 30 new co-okers had been fixed, in addition to a number of heating stoves, grillers, ringburners and gas engines. A great many improvements had been'carried out at the works, and the plant was in good order for the winter. The mains had been extended for nearly three miles and a half, and 50 more street lamps had been erected, increasing the number to 106. A sum of «£SOO had been transferred to an account Called the “capital auxiliary loan fund,” representing the amount which had been used out of the profits to increase the necessary plant. In other words, '.lit- AieGO from debentures did not quite cover the cost of laying mains, etc., and rather than borrow any more money it was thought wise to pay for the plant out of revenue. In the new manager (Mr M. ,T. Kennedy) the company had a zealous and. able officer. The vacancy on the board caused by the retirement of Dr Fell had not yet been filled. The chairman added that the company might look forward to a year of increasing prosperity, as the town was growing and the consumption of gas was on the increase. Mr J. M. Richardson seconded the motion, which-was agreed to. Messrs H. Hume and Allan Strang were re-elected as directors, and Mr H. member was re-elected as an auditor. On the motion of Mr W. R. Symons, seconded by Mr G. M. Kebbell, the directors were voted.,£loo for their services during the past year. , In acknowledging the compliment, the chairman spoke of the zeal and energy shown by the secretary (Mr A. H. Trivebridge) in the discharge of his duties.