HOKITIKA GAS COMPANY.

West Coast Times, Issue 2851, 23 May 1878, Page 2

HOKITIKA GAS COMPANY.

The annual general meeting of this company was held at Hansen's Hotel last evening, the Hon. J. A, Bonar in the chair.

The following report of the Directors, on the motion of the Chairman, seconded by Mr M. W. Jack, was carried unanimously: —

11 The Directors, in submitting their fourth annual report and balance-sheet, have to congratulate the shareholders on a considerable improvement in the position of the company.

" During the year sub-mains have been laid, whereby 36 additional consumers for lighting and 8 for cooking purposes have been secured, thus making the number of consumers up to 415.

" The works of the company continue to give every satisfaction, and your Directors have taken all necessary steps to maintain the efficiency. " Two benches of new retorts have been set, and others are in stock for future use.

" From the statement of accounts it will be seen that there remains a balauce of £1192 5s lid to credit of profit and loss, after deducting the interim dividend of 6s per share, amounting to £600, paid in November last; out of this sum your Directors recommend the payment of a further dividend of 8s per share, which will absorb £800, leaving a balance of £392 5s lid to be carried forward.

"In accordance with the resolution adopted by the shareholders, the necessary steps were taken to obtain an Act of the Legislature for the company ; this was passed during the last session of Parliament.

" Two of the present Directors retire by rotation, viz., Messrs Johnston and Pearson, both of whom are eligible for re-elec-tion.

" You will also be requested to appoint auditors for the year. Messrs Beit and Runcie again offer themselves for re-elec-tion,"

The Directors and Auditors were reelected, and votes of thanks were passed to the Directors and officers of the company, and the meeting terminated.

About £3000 has been already subscribed for the relatives of those drowned in the Eurydice. A Government inquiry is to be held. The masters of several vessels which were in the Channel the same afternoon that the frigate was lost .state that the squall came on suddenly, and that it could not have been perceived from on board a vessel so close to the high cliffs of the Isle of Wight, east ofVentnor. A grant of public money will be made to the families of the deceased, as in the case of the Captain. Sir A. Alison has taken charge of the Intelligence (?) department of tlie Horse Guards,