GAS COMPANY.

Wellington Independent, Volume XXII, Issue 2653, 26 March 1868, Page 4

GAS COMPANY.

A Public meeting for the purpose of furthering the undertaking of introducing gas into this City was held in the Hall of the Mechanics' Institute at 8 o'clock on Tuesday evening, W. B. Ehodes, Esq., in the chair. There was a large attendance. The Chairman having read the advertisement convening the meeting, stated that the directors had been in communication with Mr Walker of Canterbury, who had expressed his readiness to come to Wellington, and to give every information in his power if ho were guaranteed £52 10s for the trip. The directors had not, however, the funds in hand to give thia sum, and the meeting had been called with tho double object of raising the amount and seeing if the people of Wellington would come forward to have their city lighted with gas or not. (Hear, hear). He had for nine years endeavored to introduce a gas company, and hoped that the meeting would support the directors in forming tho company as quickly as possible. Six hundred and seventy shares out of 2000 had already beon taken, and with a little energy the ,'whole amount might easily be procured. During the stay in England of Mr Carter thafc gentleman had obtained from Mr George Bowie, an eminent gas manufacturer and engineer, plans and specifications of gas works such as were now in Christchurch, paying 12£ per cent, and had done his utmost to bring the matter to a successful issue. It would be useless for him to apeak of the advantages of introducing gas, tbey were sufficiently apparent, but he would like to sco every householder join the Company, which would, without doubt, be an extremely lucrative speculation, and an advantage to the city. He believed that twelve months after the 2000 shares were taken, gas would be introduced, and he hoped that if Mr Bowie would find the material as cheaply as anybody else, he would be recompensed for tho trouble he had taken in drawing up the plans by receiving the offer to su]jply the plant. (Cheers.) Mr C. E. Carter stated thafc when in England he had put himself to some inconvenience in finding out the most respectable gas engineers and manufacturers, and had meb Mr Bowie, who had given every information in his power, and expressed himself pleased to undertake the supplying of fche necessary plant at the cheapest possible price. The plans wbich for somo time had been exhibited in the Athenreum had been drawn by this gentleman, and showed apparatus capable of supplying Wellington with gas ten years hence. In addition to the plans, Mr Bowie had drawn up very full specifications, and tho following estimate of the probable cost : — £ 1. Plant and material described in the specification and shewn on the plans for shipment in London 1920 2. Buildings, including foundations for tho great; tank ... ... ... ... 1500 3. 4500 yards of Bin., 6in., 4in., and 3in. mains 1575 4. Fixing plant; 500 6. Freight on materials : 280 tons at 5s ... 700 6. Cost of land, forming company, and legal expenses 600 7. 100 lamps with 20 foet of service pipe fixed 400 8. 150 meters at 60s fixed 450 9. 150 serviceß at 30s fixed 225 10. Working capital and sundry unenumerated items ... 1130 Total cost; ... £9000 Less by payments for meters and service pipes 675 Less by reduction of item No 10 ... 500 1175 Actual cost ...£7925 Profit and lobs — It is estimated that, assuming the consumption of gas in Wellington to be four million cubic feet, at 12s 6d per thousand, there would bo an annual increase of £2937, and the working expenses would amount to £1930. leaving profit; of £1007, equal fco 11 per cent on £9000. But as the workß would produce double tho abovo quantity, fche profit would be much greater in time. For his own parfc he believed the working expenses might be reduced, and he did not think the cost need exceed £8000. (Hear, hear.) Ho bolieved thero would be an annual dividend of eleven per cent. It was an acknowledged fact that gas was fully six times cheaper than either oil or candles and gave considerable moro light. Gas companies in England always paid large dividends, and there was no doubt they would do so in New Zealand. Indeed, they did in Otago and Canterbury, and would in Wellington, a city which had already made such rapid progress, and was daily increasing in size and population, It would bo a pity

that for want of the sum of £9000 fche city should not be lighted up. Ho made the people of Wellington a present of the plans ho had laid on the table. They might uccept them or reject them as they liked, but if they only helped tho directors to introduce gas works he would be amply rewarded. (Cheers.) Mr Dransfield, as Chairman of the Board of Works, said that the Town Board Act made no provisions to guide the Commissioners as to what action they should take towards supporting the gas company. Individually, ho was strongly in favor of the movement, and would take some shares, and he thought the introduction of gas would meet the desires of all tho ratepayers. The peoplo of Wellington were greatly indebted to the Chairman for the interest he had taken in endeavoring to introduce gas, and ho hoped that the present meeting would result in the required amount; of shares boing taken so that the company could be at once formed. Mr Marriott would like to know the estimated cost of laying on the pipes to private houses, stores, &c, and how much per foot the gas could bo supplied at, and also the charge for meters. Mr Carter said that the receipts of works, such as he proposed, would probably bo as follows : — 4,000,000 cubic feet of gas afc 12s 6d, £2500 ; 150 tons spare coke from colonial coal at 40s, £300 ; 5000 gallons of tar at 3d, £62 10s ; rental of 150 meters afc 10s por annum, £75 ; total receipts, £2937 10s. I After some little discussion it was resolved on the motion of Mr J. H. Wallace, seconded by Mr J. Martin, fchafc fcho directors should bo empowered to take steps to canvas the town fco obtain shareholders to fche required amount. I The meeting adjourned at nine o'clock wifch the, usual vote of thanks to the Chairman.