ROSLYN TRAMWAY COMPANY.

Otago Daily Times, Issue 11182, 3 August 1898, Page 4

ROSLYN TRAMWAY COMPANY.

I The annual meeting of the Roelyn Trami way Company (Limited) was held at the ! Agricultural Hall Board Room last night. Mr P. Duncan.,(chairman of directors) psetided, and there were 10 shareholders p.resent. ■ • ''■'.''"-. The Chairman, in moving the adoption oC the report, which recommended the'payment; of a dividend of 7£ per, cent., said he thought the shareholders'all knew what was going on with 'reference to' the '.company. They., had virtually made a start with the coristrucjioa. ; of the extension, and the duplication .of the ■ line.; 'The company had spent in-!the purchase of material and in works £1743. ;Since : last year concessions with both the Roslyn. Borough Council and the Dunedin City' Council had been, completed, which put'the com- '■ pany in the position of having 19 years-froni i the Ist of September to run their iirst term, I with a' renewed term after that 0f,21 years. So far as the concessions were concerned! the company was now in a very goboV position. The directors were assured tliat when the' extension and the duplications we're ponipieted the district'would have.a service which would in every; way fulfil it's requirements!:; -They I were fortunate in having chosen the present ' route from ,the. very inception of the iine. .Already a very Vapid development had, talcen, I place about Belleknovves and the surrounding j locality; and there would be a further de,yelopm'ent,; he had'no. doubt, right along the Who la route of the line. The expenditure j which the company, intended to make would j run into something, like £25,000, and-thb di* ' : rectors were confident that that would ; give ; them a line, which would virtually do for'their j whole te'rni. A, cable tramway was of sucji a 1 nature that it could not be continually'added j to, and it had to be constructed'so"as actu, . ally to anticipate the wants of-'the'district a, considerable, number of years 'ahead. Tjie construction of the new works might 'inter. • iere somewhat with the 'dividends of the share, holders for a little while. ,'The, company however,' would hot depart from themSViial custom of paying a dividend, of ,7^, per cent. i f^V^'^t 1 'vMl?tlie di«ctors might have" *o. :*™ th? shareholders to bear, a'little ~c , t^ IT':Mte^ lds '-th^ttiid not:-inticipate that, they would...be asked, to acqept lessV]ha£ *'?..BPf peat-, dividendv. Thfeldireclors #d o PUrP. oSe * ■■*& ni Sht Saving'W evaded Sm&S' Of vall *he >or& that wertto be undertaken; but it would be necessary, fn a at W a r ek- Si tO Cal-! the -^holder! together " .at a special meeting for the purpose of alter- = I itgnMo^-ff*?? the arti^ of their conSfS¥£s3sS 2&*W^&2B£SS'. ]£a£F*r X* in ,' uoh * ™*«S mmmm the.tranisrunnmg. on, Sunday, and they%ere ' .assured that nothing.would^e done wiS ■ !.an»on. to know whether it wks'to tWad -Mr Martin.said the company' were not losmg anything.by running the tVlmloaS^n day, and ..the traffic was- always impfoyW • day^ running h*« aday! Q^Sun- ; ; Mr Wilson! I don't care if you. run" only an hour a day it .-interferes with the mmleges the workmen, and I ddn^t think ie , IS.-nght. ■'.. . .'. •■_ '■'• '..'*;;'"', i/",. .YThe-CHAiHMAN said none of, the workmen objected to work on Sunday, and:they Were Paid time apd a-quarter on that day. • : j -Mr, Wilson intimated that he would bring j the .matter up at another meeting,'and the j business of the evening then concluded. >\.'