WALTON PARK COLLIERY.

Evening Star, Issue 4302, 9 December 1876, Page 2

WALTON PARK COLLIERY.

The third annual general meeting of the Walton Park Colliery Company was held at the Chamber of Commerce to-day at noon ; Mr E. B. Cargill in the chair. The principal portions of the directors’ report were;—

The directors congratulated the shareholders on the results of their operations up to October 30 last. The profit which the shareholders in general meeting will ho called upon to deal with is LI ,582 18s Id : ami the directors recommend that a dividend of 2s per share, or equal to 20 per cent, on the paid-up capital, he declared. This will absorb L 1,015, and leave a balance to begin the next year with L 567 18s Id. The above result is after writing off all the imeliminary expeuses, amounting to L 353 Is 7d. Whilst there is such good reason to be satisfied with the result of the company’s operations hitherto, and the directors are confident that their prosperity is fully established, they have in view other arrangements by which they trust to reduce i he working expenses, and ensure even better returns for the future, i The establishing of weigli-bridges, by which the company have been enab'ed to sell by weight, instead of by guess measure, has materially assisted in producing the result shown in the present balance. The quantity of coal sold during the year Las been 18,905 tons; and the directors are glad to be able to inform the shareholders that the quality of the Walton Park coals is being uowso appreciated by tbe general public, tlmt it ig

almost tlio only fuel now used by all the various manufactories in the neighborhood, and that it is also to be found in every household. This is the more gratifying that it has not attained this pre-eminence without passing through a period when the competition of other cools was very severe. but out of which the Walton Park coal has taken its p r esenu place in the estimation of consumers. The public has now learned to burn it, and have recognised its value. For purposes of comparison, it may be noted that by an apparatus adapted for the purpose, Messrs Watson Bros, are now effecting at a cost, of 15s per month what cost them LlO per month, by means of a gas Stove, and consumers would, therefore, do well to see that their grates and stoves are suitable, as some prejudice at one time existed against this class of coal, which resulted from its being consumed in appliances which did not give the full power of the fuel.

The report was adopted. Mr William Brown was re-elected auditor, and Messrs Gibb and W, Watson re-elected directors. It was resolved that in future the halfyearly general meeting shall be held on the first Monday of the half year.