MANAWATU RAILWAY.

Taranaki Herald, Volume LIV, Issue 13664, 1 April 1908, Page 15

MANAWATU RAILWAY.

COMPANY'S ANNUAL^ MEETING.

Per Press Association. WELLINGTON, Aprjl 1.

At the annual meeting of the Wellington and Manawatu Railway Company to-day the Chairman stated that the year ifwfc closed had been a record one for the volume of business done -and also showed the greatest' increase for any one year. He doubted if ,the most sanguine of the directors had dared to hope last, year that the ensuing twelve months' .operations would result in an increase of revenue amounting to £16,913. For the past two years the aggregate increase was £28,099, approximately 16, per cent, of the .whole revenue' for the year. The number of passengers carried during, the .year had increased from 510,606 to 601,250, and on account of the, passengers with their parcels there was £9365 of improvement in revenue. The goods carried during the year amounted to 134,779 tons, or 15,719 tons more than Hast year.' This accounted for £6168 of the increased revenue. The expenditure had increased by £14,214, and amounts ed i» 60.2 per cent, of the receipts. The sum available for dividends was £44,941. It .was proposed to pay out of this dividend 4 per cent, (making with the interim dividend of 3 per cent*, already paid 7 per cent. for. the year) and to carry forward a balance of £33,141. Referring, to the Government's taking over the line, the Chairman . said : "At the present juncture* we can only await* events, ,butwe s are quite prepared to facilitate and assist the Government in the acquisition of the line in every way consistent with due regard to the interests of shareholders." Messrs J. R. Blair and H. Strang wese re-elected to the directorate.