WELLINGTON GAS COMPANY
INCREASED PROFITS AND PRICE REDUCTIONS [Pus United Pkess Association.] WELLINGTON,' February S. At the fifty-eighth annual meeting of the Wellington Gas Company, the chairman (Sir Harold Beauchamp), in moving the adoption of the report and balance-sheet, said the net profit was £3,298 greater than last year. In accordance with the usual practice of reducing the price of gas as far as possible, a further reduction of 2d per 1,000 cubic feei was made on January 1, 1928. That reduction immediately benefit consumers by £4,750 per annum. “We have mad© eight reductions since August, 1922,” He continued, “ a total of 21d per 1,000 cubic feet, which, based on present consumption, would mean an annual saving to consumers of not less than £49,000. The last reduction in price of gas is justified by the increased profit to which I have just referred. There has been a further rise in the price of coal, and this has increased the cost of manufacture. The present price of coal is 120 per cent, greater than it was in 1916.”
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Evening Star, Issue 19785, 8 February 1928, Page 5
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177WELLINGTON GAS COMPANY Evening Star, Issue 19785, 8 February 1928, Page 5
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