THE GAS CQMPANY.

Taranaki Herald, Volume LIII, Issue 13927, 4 August 1905, Page 4

THE GAS CQMPANY.

A very flourishing local institution }i& the New Plymouth Gas Company, whose twenty-seventh annual meeting I was held on Monday last. Upon a. I paid-up capital ol\ £16fQ0O> the com-; I pany made a . profit which .enabled.H) to give its shareholders a^etum. ,(d ten per cent..;on*their , capital, invested, besides, placing £1000. to ■ „ reserve fund and »£Bl to., renewal -account, I and then leaving £560, to be carried t forward to the new jraccoun.t;^r X*. V^\ i

be 'good news ateo~ to the. consumers to know that . a further reduction iii_jthe price of 1 gas has taken place, bringing the nett charge to general consumers to 7s lid, and we feel sure the directors will find that the increased consumption will fully ' compensate for the reduced rate. During last year no less than 140 new services were laid on, and the total consumption increased over a million feet. Considering that the addition of the incandescent light system leada to economy of consumption it"' seems highly satisfactory that side by aide with that a steady increase in the quantity of gas used has taiken place. ■ It should encourage the Company to still further popularise the use of gas. . During.the last three years the Company has spent 1 £7614 on -capital account in 'laying new mains and services and in improving the plant, and still -there' fa i .an unsatisfied demand. In the irivmediate future the mains -are to be- extended to Fitzroy, where there is room , for larger ccmtsvimptioii.' The financial- position, of tlie company is 'strong/ for against assets amounting- to .£22,612, it has actual liabilities, outside its share capital and renewal account, •amounting to no more than £2083. There is still £2831 oti. uncalled capital, but the directors have decided to raise money on-* debentures for the purpose of carrying out the extension to Fitzroy. Before the current year is " over the Company will probably be faced with . the competition of the hrariicipal electric lighting- system, but there is no cause to fear the future on this 1 accotmt, |or ; expe- ' riences of' gas ; companies" -all- -ovet 1 the world has.' proved over, and over again gas does not suffer front such ' rivalry: '