ASHBURTON GAS COAL, AND COKE COMPANY.

Ashburton Guardian, Volume VII, Issue 1707, 9 November 1887, Page 2

ASHBURTON GAS COAL, AND COKE COMPANY.

The annual general meeting o* the Ashbarton Gas, Goal, and Coke Com* pany, was held at the Arcade Chambers ypßtcrday af 'Rrnoon. Mr T. BaUock, Ohrirman of D ••eotiw, occupied tne ohalr. DIRfiOTOFS' REPORT. The Dlrectora 1 report «a* aa follows : — Baring the year there haa beea a leas consumption of gas than for some years past, which la proof that the consumers, generally, are ecouomlsing and, aa a oonpf<jaence, the receipts have fal'en off. — Y'joi Directors, nodet these olrcutnatanoan, do not recommend a dividend of more th&n 8 per cent per annum.-— The proE and losa account shows a credit balance of £846 10s, which your Directors recommend shall be appropriated aa follows : — The payment of a dividend of 8 pec cent per annum, which shall abaord £640, and the balance, £206 10a, to be oarried forward . It; ia considered desirable to alter the Articles of Association m accordanoe with the rotlce accompanying the balance-sheet. — The retiring Directors are Messrs W Bt. G. Douglas, R. Friedlander, and T. Bullock, who are eligible, and offer themselves for re eleotion. — The Auditor also retires m terms of the Artioien of Association, bnt is eligible for re-eleotion. The balance-sheet and report were taken as read. The Chairman, In moving the adoption of the report and balance-sheet, Bald he was sorry that a more satisfactory state of affairs had not been disclosed. There had been a great falling off m the oonanmptlon of gas, which was a proof that onnanmera were economising m consequenoe of the bad times. It was nnfort«oate for the Company that the soattered nature of the town necessitated a very great length of mains In order to supply consumers ; the Company had, therefore, more money idvetted m works than other Companies better situated, and was not able *o pay such a large dividend as the latter. He referred to the inducements which the Company had held out to householders to übo gas for coektag parposes; He was sorry to say that these inducements had not been attended with success, but the Company were still prepared to offer the same favorable terms ai hitherto* The Rev A. M. Beattie seconded the Chairman's motion, whloh was carried. DIVIDEND. 1 It was resolved on the motion of the Rf v A. M. Beattie that the Dlrettors be authorised to pay the dividend reooramended m the report OFFICERS. Messrs Bollock, Douglas and R, Friedlander were re-elected Directors Mr Jameßon wag re-elected Auditor. COMPLIMENTARY. On the motion of the Ray A, M. Beattie a hearty vote of thanks was passed to the Directors, and a similar compliment was. on the motion of the Chairman, pasted to the Manager and to tho Secretary. EXTRAORDINARY MBFTINO. An <xtraorc?lnary general meting jpn» then he'd, at wheh resolutions ame:idl-ig th« Atklea of Asapcl&fion wore oooaid'red. These were chiefly m th* d'r ctinn of lowering tho number of khtreboiders requisite to form a quorum -nd reducing the number of Directors from seven to Gve. The resolutions were oarried, and it was resolved that a meet* ing for confirmation be held on Dec !•