THE MANAWATU RAILWAY.

Taranaki Daily News, Volume XXIV, Issue XXIV, 3 April 1902, Page 2

THE MANAWATU RAILWAY.

ANNUAL MEETING OF BHABEHOLDKRS. PBK PKESS ASSOCIATION. Wellington, April 2. The Annual meeting of shareholders in the Wellington-Manawntu Railway Company was held to-day. The ch«i>man said the receipts totalled £104,207, a very material increase over thn previous year, and more than double the revenue of fourteen yfara ago. To earn this revenue more trains had to be run, and maintenance expenditure had increased by ,£lO3 der mile. The receipts and expenditure were really higher than ever before, and tbo ratr-s were lower. Although they might be able to pay a dividend tbo j;ap between income and expenditure w..« L sseniot' every ye.'-r. A mono;, for the adoption jof thn report and balnnce-sheet was ;agreed to. Messrs T, (!. McCarthy and 0. Izard were ivi-ehc'rd director. A series »f lesolutions was moved bv the chairman to give phitreholders in tho United Kingdom tho right to vo'e ■>.t; a meeting to \w held in London was rej-'cted. The object of tho res luc'on was to permit a vote of English shir - holdeis to be taken (Contemporaneously with the voto of New Zealand sham holders upon the provisions r-f sale under the Empowering Act cf last session. ■ The meeting is . now discussing a motion that negotiations for the sale of the line be not proceeded with. Later. After a lenthy discussion the motion was rejected by 847 votes to 455.