MANAWATU RAILWAY COMPANY.

New Zealand Times, Volume LXXI, Issue 4309, 19 March 1901, Page 6

MANAWATU RAILWAY COMPANY.

ANNUAL REPORT, 1900-1901. RECORD AMOUNT OF TRAFFIC. The report of the hoard of directors to the shareholders of the Wellington and Manawatu Railway Company, Luo - ted, to be presented at the twentieth annual meeting on the 3rd of April, states:—“Your directors have much pleasure in submitting for your information and approval the accompanying statement of receipts and expenditure and balaneejshect. Notwithstanding material reductions of rates, the traffic earnings for the year, £96,270 Is, represents the largest volume of traffic handled in any year since the opening of the railway, The income from tho railway and land lias been so satisfactory that the directors feel justified in recommending the payment of a dividend of 6 per'cent, for the year. Messrs J. Kirkcahiie and J. A. Plinnncr are the retiring directors, and, being eligible, offer themselves for re-election. Messrs H. Kouiber and D. T. Stuart, the retiring auditors, also offer themselves for re-election.” The statement of receipts and expenditure from the Ist March, 1900, to the 28bh February, 1901, shows that the receipts amounted to £152,994 Is, made up as follows:—To balance 28lh February, 1900, £41.396 9s 7d; traffic, £94,418 5s sd; land (principal, interest, rents, etc.), £14,039 14s 10d; refunds. etc., £3126 11s 2d ; transfer and scrip foes, £l3. The expenditure included the following items:—By debenture interest, £34,000; traffic, £31,072 3s 7d; deposits, £20,000; stores, £11,777 16s 8d ; dividends, £BSIO 12s 8d: rates and taxes, £6232 18s sd; rolling stork and machinery, £l4B-4 12,s sd; directors’ fees, £1000; land, £BBS 2s od; construction, £7Ol 15s 7d; London office charges, £546 ss; refunds, advances, etc., £309 14s 4d; commission and discount, £205; auditors’ fees, £157 10s: total. £116,883 11s Id. The cash balances totallen £36,110 9s lid (Wellington Bank of New Zealand, £1294 12s lOd, London £34,117 12s Id. and head office and stations £698 ss), bringing the ex. peuditur© to £152,994 Is. Th© profit and loss railway account shows that the gross traffic proceeds forth© year amounted to £96,270 Is, from which is deducted expenditure £40,562 0s Id, leaving £49,708 Os lid a.s the tic* traffic proceeds. Tito balance-sheet as at the)2Bt'h February, 1901, shows the total net profit available for dividends to he £31,502 5s lid. There was £27,634 Os 5d available for dividends as per the, balancesheet at the 28th February, 1900. Of this the sum of £Bsoo' was paid a.s dividend, leaving £19,134 0s sd. Th© not profit on the railway account for the year 1900-1901 was £9791 6s Bd, and that on tho land account £2576 19s lOd. The amount not available for dividends is £55,560 14s 4d. made up of land account, as per balance-sheet at tho 28th February, 1900 £51,290 0s 7d, and net profit from laud sales for the year ended--, the 28th February', 1901, £4270 13s 9d'. Tli© assets are set down as making up the sunn of £952,885 12s Bd. The details areas follow:—By railway, £763,408 3s lid; freehold lands, £52,698 6s 9d; balances due by land purchasers, t £52,010 12s 3d; deposits and accrued interest, £40,872 Os 4d; sundry debtors, £3416 10s Id; railway stores, £4369 9s sdi; cash balances, £36,110 Os'lid.