TIMARU GAS COMPANY.

Timaru Herald, Volume XIIIC, Issue 14143, 1 March 1910, Page 7

TIMARU GAS COMPANY.

THE ANNUAL MEETING. The annual meeting of the Timaru Gas Company was held last evening, when Mr W. Evans, chairman of directors, presided over an attendance of about fifteen shareholders. The directors' report was as follows:—"The annual increase in the consumption of gas has been maintainea. The new and large purifiers necessary to meet this demand have been completed, and a large station governor and scrubber has also been imported and erected. The retiring directors by rotation will be Messrs G. Gabites and E. A. LeCren. A new director will also be elected to succeed the late John Jackson on the Board. An interim dividend of 5 per cent was paid in July last, and a further one of 6 per cent, making 10 per cent, for the year, is now recommended." The balance sheet showed in the profit and loss account that the receipts for the year were:—Gas rates and stove rents, , £7,712 16s Id; tar account, £639 6s Id; coke account, £B6B 13s lOd; transfer fees, 7s 6d; weighing, 15s 6d; total £9221 19s; to which was added a. balance of £lslO 6s 6d from the previous year. The expenses account was:—Manufacturing account, £4,100 9s sd; renewals, £193 2s 4d; general expenses, £212 13s Id; interest, £94 17s 3d; rates and taxes, £364 13s Id; dividends, £1,565 12s 6d;

directors' fees, £lO3 secretary, £200; gas fittings, £273 17s Id; bad debts, £lO5 15s 4d; leaving a balance of £3,517 6s sd. The value of the works, mains and services is set down at £30,840, site at £BOO, stocks of materials and fittings at £2366. The chairman said that everything had run very smoothly during the year, and the profit had been almost a record one. The company's business was prospering, and was likely to prosper, despite the electric light. They were extending their mains, and he thought that their customers were quite satisfied. On the motion of the chairman, seconded by Mr Melville Gray, the report and balance sheet, after a few questions had been answered, were adopted. The retiring directors and Mr S. F. Smithson were elected directors. Mr J. E. S. Jackson was appointed auditor. Complimentary reference was made to the services of the staff, and the meeting closed with a vote of thanks to the directors and staff.