THE KAITANG-ATA RAILWAY AND COALCOMPANY (LIMITED).

Otago Daily Times, Issue 9859, 3 October 1893, Page 6

THE KAITANG-ATA RAILWAY AND COALCOMPANY (LIMITED).

The eighteenth annual general meeting of this company was held at the company's offices in Crawford street on the 30th nit., when there was a' fair' attendance of shareholders present, Mr. Brydone, the chairman of the company, presiding. The report and balance sheet were adopted as printed, and the ChaVrjian remarked that the directors had again been able to place a satisfactory balance sheet before the shareholders. In these' times of general depression it was very pleasing to be able to recommend that a dividend of 17£ per cent, per annum could be paid on such a sound.basis, and there was every prospect that this condition of things might be looked forward to for years to come. The company had expended a .large sum of money during the past year in making the plant one of the fioest in the colony and in developing the mine, to-such an extent that they would now be able to produce their coal at the lowest possible price, and of the very best quality. The company possessed a magnificent air-compressing plant, the latent automatic screening machinery and electric light, all of which combined to make the equipment of the mine absolutely perfect. ' The main shaft had now been sunk to a depth of 700 ft, which gave command of a body of coal that would last for. many years.without further outlay in explorations. The consumption of the coal had increased by upwards of 10,000 tons over the previous year, which was the best proof of the favour in which it is held by the public, and the company had been worked in such a manner tbat its financial position stands at the top of the tree.: . ■»

The retiring directors and auditors ware reelected, and generous thanks accorded to the directors and managers of the company. One special feature of the meeting, which was enthusiastic and unanimous right through, was the hearty manner in which the shareholders approved of the recommendation of the directors to distribute £500 as a bonus to the miners on account of the company having had another successful year.