WELLINGTON GAS COMPANY.

New Zealand Mail, Issue 1510, 7 February 1901, Page 47

WELLINGTON GAS COMPANY.

A SUCCESSFUL YEAR. MEETING AT THE CHAMBER OF COMMERCE. A well-attended meeting of the shareholders of the Wellington Gas Company vas field at the Chamber of Commerce cn the Ist, Mr D. J. Nathan, chairman of directors, presiding. In moving the adoption cf the reoorfc and balance-sheet (which have a tread v been published), Mr Nathan said:—lt gives me the greatest amount- of satisfaction to present, the statement of tins past year’s work to you, and I can congratulate the shareholders and staff on the result. In spite of the competition of the electric light, the sale of gas has increased considerably, amounting to over seven million feet! This, of course, may be attributable to the advantages of the Welsbach incandescent system of lighting, and also to the popularity which cooking by means of gas has attained. Our efforts to popularise this latter method have been successful, and during the past year we have sold more stoves than in any previous year, and we are in hopes that the coming year will show a still greater increase. You will notice in the accounts that- we have subscribed £SO to the Technical School cooking classes. Our directors thought it- was in your interests that these should be supported in view of the good work which they are doing for the public, and b,y which you indirectly receive benefit. You will notice an increase in the property account. This has been caused, as you will gather from the report, by the laying of mains in the suburbs. This is a natural expansion, and during the next- few years you may look forward to an increase in this account, as further expansion in various directions as circumstances dictate, will have to be made. Amongst the extensions that have taken place daring the past year, a contract lias been entered into with the Melrose Borough Council for their street lighting, and I venture to say that anyone who has inspected their lighting by means of the Welsbach incandescent burners, and compared same with the electric lighting in thi'3 city, can have but one verdict, and that is in favour and 1 praise of the former system. The mains for Island Bay extension should soon be here, and the work of laying them will be at once proceeded with. I do not think there is any item in the balance-sheet that I need tench, upon, but I shall be pleased to give any information required. We have this year written off the item of office furniture £438 4s sd, ana are gradually bringing our system of keeping accounts into a form more in accord with the ideas of to-day. You will notice that your board makes no recommendation of writing off any amount for depreciation. but the sum cf £2BOI Is 5d has been expended during the past year cn repairs tcf and maintenance of plant. Tbi3 policy the board intends pursuing, and out of the amount that win be carried forward this year, we would <:dk you to remember that a sum of fully £4OOO will be required for repairs an z> Reconstruction of retort house N . 2. This work will be undertaken as soon as t-lie price of material in the Home markets warrants it. Owing to the advance in the price of coal, your directors regret that- at the present time they are unable to recommend a reduction being made in the price of gas. As you are probably aware, many other gas companies at Homo and in Australia have had, instead, to raise the price for the same reason ; this, however, i do not for a moment anticipate will J e necessary for this company, and so soon as a fresh contract can be satisfaetc.by arranged, the matter of being able to reduce the price of gas will receive th* board’s ear,rest attention. * There has been a large increase in the company's business, Avhich has necessitated very careful attention. The board in carrying out its policy of popularising the company, has been ably supported by the whole of the staff, and, in conclusion, I t ake it as one of the greatest pleasures of our meeting, that- we can speak so highly of our officers, from the highest to the lowest. Seconding the adoption of the report and balance-sheet, Mr H. Bean champ said the phenomenal success which liau signalised the company’s operations during the last few years—and particularly this year —was largely due to -3 e way in which its officers had worked. The company was singularly fortunate in having secured the services of such competent and enthusiastic officers as Messrs Howell, the secretary, and Birch, the engineer. An admirable system cf book-keeping bad been introduced of late; and the increased volume of gas consumed —seven million feet for vear —side by side with the decreased price in its production, was gratifying. This latter result reflected great credit upon Mr Birch. The report was adopted after a short discussion. Messrs D. J. Nathan and A. E. Pearce were re-elected directors, Messrs John Scott (re-elected), and William Brown (in the place of Mr Beau champ, retired), were elected auditors. Mr Mills moved a hearty vote of than is. to the staff. This was carried unanimously ; Mr Howell suitably responJ-

inff. On th© motion of Mr D. T. Stuart thi he norprium of the d tremors was increqgsed from £3o® to iSASBt