MANAWATU RAILWAY COMPANY

New Zealand Times, Volume LXXI, Issue 4306, 15 March 1901, Page 3

MANAWATU RAILWAY COMPANY

RESULT OF THE YEAR'S WORKING. DIVIDEND OF SIX PER CENT. ■At a meeting of tho directors of the Wollington and Manawatu Railway Company, held at 11 a.m. yesterday, it was decided to recommend to the twentieth annual meeting of tho shareholders of the company, to be held on the 3rd day of April nest, that a dividend of 6 per cent, be paid. The figures disclosed to the shareholders shewed that the company had bad a. remarkably successful year, the revenue derived being greater than in any previous year in the history of the company. The land transactions have been especially lucrative. This result will bo the more appreeiajo’i by shareholders seeing that for the previous three years tho amount of dividend which came to them was onlv 5 per cent. This is the fifth year in which tho Wellington . and Manawatu Railway Company has paid its shareholders 6 nor cent., the previous years being 1804* 1895, 1896 and 1897. The shareholders are to bo heartily congratulated on this result, in the faee ■of strong and unequal competition. It reflects much, credit on cho directors,who have devoted a great deal of time,to The service of tho company, and who have exhibited considerable skill and business tact hi dealing with difficult problems as they have arisen.' More especially must it be..’gratifying to 'Mr. M. M, Hammy, {lie company’s secretary, whoso skill as a manager and indefatigable attention to details have contributed largely to the success which has crowned tho company’s efforts, first to provide an adequate, up-to-date and comfortable service, and secondly;, to \ return to shareholders a fair return on their outlay.