PALMERSTON NORTH GAS COMPANY.

New Zealand Times, Volume LXXI, Issue 4306, 15 March 1901, Page 2

PALMERSTON NORTH GAS COMPANY.

; A SUCCESSFUL YEAR. | The ninth annual general meeting of i the shareholders of the Palmerston | North Gasi Company, Limited, was held [last night in the Chamber of Commerce, when Dr Collins occupied the chair. '■ There was a fair attendance of shareholders. In presenting the report and balancesheet, the chairman said his anticipations of increasing prosperity, made at the last meeting, had been realised, as the balance-sheet would show. The shares were now at a premium. He described several of the changes which had been initiated by the directors. The directors’ meetings in future would be held at Palmerston North On the resignation of their late secretary, the manager of the gasworks, ]VIr Kennedy, had assumed the duties of that position, which would be the means of effecting a saving for the company. The directors, in their report for the year ending 81st January, congratulate the shareholders on the progress made during the past twelve months. The total amount available for distribution was £1951 6s 7d. The directors recommended the payment of a dividend at the rate of 6 per cent, on the paid-up capital, which will absorb £1260. leaving a of £691 6s 7d to be further dealt with. The directors further recommended placing the sum of £550 bo the reserve fund, the balance, £l4l 6s 7d, to be carried forward to nest year’s accounts. The report and balance sheet were adopted on the motion of the chairman. Dr Collins and Mr J. M. Richardson, the retiring directors, were re-elected. It was notified that Mr W. Rutherford. of Palmerston North, had been nominated as auditor in opposition to Mr Kenibcr (the retiring auditor), and on a show of hands Mr Rutherford was elected. On a poll being demanded Mr Kember, pointed out that by the rules of the company the election could not take place, unti_ th© gxpiration of seven days from the date of the meeting. It was decided that the election of an auditor should take place at the registered office of the company in Wellington on the 22hd inst.