A PROSPEROUS CONCERN.

Poverty Bay Herald, Volume XLII, Issue 13697, 29 May 1915, Page 4

A PROSPEROUS CONCERN.

"ANNUAL MEETING' OF GISBORNE

GAS COMPANY,

There. Avas a small attendance of shareholders m the" Gisborne Gas Company at the 32nd annual meeting lield last night under the presidency of Mr Geo. Matthewson.

It was remarked that the paucity of shareholders present was an indication' of the confidence reposed in ,the directorate and management. The directors' report stated :-—' 'An interim dividend was .paid on September 30th, 1914, amounting to £1282 15 s and the balance iioav available for distribution, less appropriations mdde at last annual meeting, is' £722o ls 7d. out of which your directors, recommended the payment of a further dividend of one shilling per share on 26,606 shares, amounting to £1330 6s, the placing of £1846 to share premium reserve^ £500 to a depreciation and retort renewal account, and to carry the balance of £3543 15s 7d forAvard to enable us to provide for urgent extensions. The retiring diiectons are Messrs H. J. Bushnell and A. Cuthbert. who are and offer themselves for re-election. The auditors Messrs H. M. Porter and J. H. Evans, also retire, and offer themseh*es for re-election."

The chairman 'moved the • adoption of the report. He" congratulated the shareholders upon the fact that, although the competition had been very- severe this past year, the total amount of business, done and income received Avas within ? few pounds equal to last year. The board were extending j their* mains out to the outlying' districts and, wliilftliese. extensions Avere 'not- -remunerative at present, yet, as the population grew they hopped ' (especially as gas' had become such 'an all-round- necessity) --that' they Avould become more and mow profit-bearing each year. Coal had cost them (oAvfngto the colliery -strikes* m Newcastle) very -much- more "than th. preA-ious year. The chairman "read a feAV 1 extracts -from an analysis- of the company's affairs, Avhich, lie remarked, went to prove that the company Avere m a strong positions -The directors, to-, gether with their manager, Mr Hoare, were keenly alive to me necessity of pushing the sales of gas .for cooking, etc., i and -were looking 'forAvart*- (to '• another prosperous year. In seconding - the "motion , Avhich ' AVas; carried, Mr Jamieson said he thought the result of. the past year's operations, was very satisfactory. Mr Bushnell made similar" comments. ;

•Messrs, H: J. Bushnell and A. Ciithbert were ! re-elected directors, and the retiring auditors, Messrs :■ ._"_.• M. Porter and J. Elvans, Avere re-electod-j-uditors'.

A very hearty -vote of -thanks .• aaW accordedi to ZvH' Hoare, ; manager and secretary, ' smd bis-; staff of officers, and AA'orkmen -for -<theiV' A-ery loyal ser-i vices during the yast year." ".-•>•-. •«.-» ■ iMrvHoave, on behalf of rhimself, staff ■aistd Avorkmcn, returned thanks for the appreciation^, of the^ shareholders. At a> subsequent 'meeting of the direc-tors.--Mr MattheAvson avrs unanimously i"e-elected ehairanraK - -'-" 1 ' 1 " i-*'