THE MORNINGTON TRAMWAY COMPANY.

Otago Daily Times, Issue 10416, 19 July 1895, Page 3

THE MORNINGTON TRAMWAY COMPANY.

The annual meeting of the shareholders of the Mornington Tramway Company was held at the company's offica, Mornington, last,night. Mr Henderson Law presided, and there were nine shareholders present.

The annual report, which recommended the payment of a dividend of 7 per ceut. on paidup capital, and which has already been published, was taken as read.

i'he Chaibman, in moving the adoption of the repbrt and balance sheet; said the year just closed had bCeti quite uneventful. There was really nothing to add to the reporfc which was in tbe hands'of the shareholders. The line was in the usual gcod order. •'The expenditure in maintaining it had been liberal, and it was now ia as good order as it could be. He was sorry to say that one of their duties that nigbt was to elect a (successor to their late auditor, Mc Leary, whose d«ath they all lamented very much. Mr Leary's sou was a candidate for the office, and he (the chairman) might state that the practical part of tbe,duty of the auditor had to a large e-xtent devolved upon the son under his father's supervision; and latterly that duty had devolved Entirely upon the son, who was very conversant with the work. There was also another candidate for the position— namely, Mr Statham.

Mr Geohue Esther seconded the motion. In doing so he said it was always a pleat-ure for shareholders to come to a meeting like thnt add to go away with their dividends in their Dockets. The rcwipts for the year had not been quite so large as in former years—as fchey were the previous year at> all events,—but the expenditure had also been less, and the company had been able to make as good a profifc as in former years. -

Mr F. W. Mitcheli, asked if the directors had anything to tell the shareholders with reference to the down faces. "~™

The Chaibman replied that the directors gave the matter their attention 11 months ago, and they could not see their way to make any reduction in the fares. Their experience satisfied them thafc it would not add fco the number of travellers to reduce the fares. The shareholders might be aware that the company now ran a down car for workmen, who were charged a penny fare. Workmen, however, did not avail themselves much of that car. In wet weather it was full, but of fine mornings there were very few passeugers. The directors were of opinion that; the company gave very good value for any charge tbey made, and they could not see their way to mske any alterations in the fares which would be likely to reduce their revenue. If the popnlation were larger it would be a different thing, but with tbe limited population to work upon there was not much room for any reduction iv tho fares.

Mr Geddes quite agreed with the directors. He could plainly see that it would not be advisable to reduce the fares.

The motion was then put and carried unanimously.

Mr Shrimpton moved—" Thafc the retiring directors, Messrs Henderson Law and Thomas Brown, be re-elected." Mr Geddes seconded the motion, which was carried. Applications having been read from Messrs Barr, Leary, and Co. and from Mr Charles fcifcatham for the position of auditor, Mr T. Brown moved—" That Messrs Barr, Leary, and Co. be appointed auditors." Mr Rogers seconded the motion. Mr Scoular, in order to give the shareholders v choice, moved tbe appointment of Mr Statham as auditor, the motion being seconded by Mr Esther.

Mr F. W. Mitchell then moved—" Thafc Mr H. Shrimpton be the auditor of tbe company." On a show of hands bein? taken tbere was a tie as between Messra Barr, Leary, ami Co. and Mr Statham, each of the applicants obtiiuing three votes, while Mr Shiimpton obtained only two votel?. A vote was tben tnken a.-* between Messrs Barr, Leary, and Co. and Mr Stutbam, the result being that the latter was elected auditor by five votes to three.

The Chairman, in proposing a vote of thanks to the employees of the eoropauy, said he beld strongly that the company were very well wv-ecl by their employees. — (Hear, hear.) Without exception they bad discharged their duties very satisfactorily in the past, and the success of the compauy depended very much npon tbem.

The motion was seconded by Mr Rogers and carried

Mr Gedbes moved a vote of thanks to the chairman and board of directors. He thought tne shareholders might congratulate themselves on hanujr not OQ j a d c i la ;,. C j an bat aiso a good diractorate. Mr F. W. Mitchell seconded the motion, which was agreed to fi, 7? Ci^ikman returned thanks on behalf of the directors, and Mr Eotson on behalf of the employees of the company. J-ne meeting then terminated.