AUCKLAND GAS COMPANY.

Auckland Star, Volume II, Issue 479, 24 July 1871, Page 2

AUCKLAND GAS COMPANY.

ANNUAL MEETING.

The ninth annual meeting of tho Auckland Q-as Company was hold at tho company's office, this afternoon, at two o'clock. Mr. Whitakkr occupied the cl'uir,

The following report was rend mid adopted

" Report.—The accounts for tne year ending 30th Juno, 1871, show Unit t,ljc company's business is in a satisfactory stnfe. The income, with last year's balance (£823 Bs. 7<1.) has been £10,968 12a 9J., and Lite expenditure* £5361 6s. 5d., leaving a profit balance of £5607 Gs. 4d. available to be disposed of. This, however, includes twelve nnd a-hulf months instead of twelve, as heretofore, as ..the meters are now taken in the middle of the month — two weeks later than in former years. Tho directors propose to ].ny out of this a dividend for the year at tho rate of 15 per cent, per annum, amounting to £4275. . To appropriate £500 to the wear and tear account, and to add £500 to the reserve fund. This, after allowing for bail and doubtful debts, will leavo' a balance of £332 6s. 4d. 'to be carriod to tho credit of the current year's account. This is no doubt less than was carried forward in June, 1870, but this is accounted for by tho reduction in tho ■prir.n of gus, und tho addition of £500 to the reserve fund. Thnb fund now stands at £1500, and as it appears to bo a general rule "with well conducted gas companies to fix tho reserve fund ut aboul, onetenth of the capital, tho directors propose gradually to increase the reserve fund ol this company to that proportion. Tho armiigemou announced u.t the last annual meeting that it was intended to givo a liberal discount of 25 25 per cent, for prompt payment has been found to work satisfactorily, and will bo continued. Messrs. Burn and Stone as directors, and Messrs. Wood and Boarduum ns auditors, retire from office. They are eligible for re-election, It is proposed to pay the dividend at the company's office, Queenstreet, on the 26th instant. " FREDERICK WIIITAKEB, " Chairman of .Directors.

" Auckland, July 14, 1871."

" Balance-sheet qv the Auckland Q-as Company (Limited), June 30tu, 1871.— Capital, £30,000.—Dr. To capital, £30,0.0; No. of sbares in the company, 6000; No. of shares disposed of, 5700—£28,500; shares not disposed of, 300—£1500; total, £30,000; 3800 original shares of £5, all paid up, £19,000 ; 19Q0 new £5 slinrca, sold at a discount, £4977 5s 8d; total'amount received from shareholders, £23,977 5s 8A ; additional sum taken from income expended in completing works, £3256 5s 1d—£27,233 10s 9d ; debts due- by tho company, £184 5s 4d ; wear and tear account, £873 7s lid ; reserve fund, £1500; profit and loss, £2469 16s 4tl; total, £32,261 0a 4d.—Cr. Immovable property— freehold land, £1482 3s 9d ; freehold build ings and plant (including mains and meters), £25,751 7a—£27,233 10s 9d ; movable property— stock of coal, &c, £354 12s lid j stock of resiSual products, £26 us—£3Bo 17s lid; debts duo to. the company, £263 19.s lOd ; cash in the Bank of New Zealand, £1414 7s 5d ; cash at interest (at cull), £1929 4s 5d ; cash invested in Government debenture*, £103i-£4377 Us 10.1; total, 132,261 Us 4d.

Peofit and Lo3S Account. —To coal ear bonisod, £19G7 3s Gd; to stokers' wngtßj £431 Is. General expenses —Dirculors' and auditor*' fees, £250; insurance, 12 10s; salaries, £624 13s 4d ; sttit i ..lu-ry, £75 10s 9J; rates and taxes, £53 lfis 3.1; potty ou;-Ii, £22 10a ; rent, £89; inspecting meters, t'47 4s — £1171 4s lOd. Office furniture, £139 l a 5d • metei'B, £534 18a lid; mains, service-laying, &c., £1151 83 3d; weur and (car account, £500 ; reserve fund, £500 ; bad and doubtful debts, £60 8s 6d ; b.ilaueo, .ta7B3 17s 9<i— £10,145 4s 2d. By gas, £9509 Jss W| by residual products, £471 7s 2d ; by interest, £158 16s sd; by ir •nsl'er fees, £3 19s 6d ; by meter ront, £l*sa 6d -£10,145 is 3d. By balance at credit, 30th Juue, 1870, £2960.153

7d; by balance brought down, £3783 17s 9d £674416s 4d. Lees amount to pay dividends declared on the 29th July, 1870, and ,20th January, 1871, £4275—£2169 IBs 4d.—E. B. Parsons, secretary.—Audited and found correct, Header Wood, A. Boardman, auditors. — Auckland, July 10, 1871." Messrs. C. J. Stone and D. Burn -were appointed directors for the ensuing year, and Messrs. E. Wood and A.. Boardman auditors.