MANAWATU RAILWAY
(Per Press Association.)
Wellington, last night. The annual meeting of the shareholders of the Wellington bd<l Manawstn Railway Company was held this a r ternoon. Mr Kirkoaldie, tbe chairman of directors, in moving the adoption of the report and balanoe-sboet, reviewed at length the history of the company, and the attitude of the Government towards it, oiaimiDg that it had not received the consideration it
deserved. The gross revenue last year was £132,460, an increase of £4728 as compared with the previous year. The number of passengers had inoreased, and there were also increases in merchandise, wool, grain, and timber, but decreases in the sheep and cattle carried. Ho ex-
plained that the proposal to grant share* holders £1 per share bonus had been misunderstood by many. It was not proposed to pay this till the deben'ures matured in 1908, and then, instead of renewing ail debentures, £170,000 would be paid off and £510,000 renewed. A oail of £1 per share would be made to do this, which would be met by a bonus of £1 per share, which would bo placed to the credit of shareholders, Messrs D. J. Nathan and D. Anderson were re-eleoted directors. The auditors also were re* elected.
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Bibliographic details
Gisborne Times, Volume XXI, Issue 1710, 29 March 1906, Page 2
Word Count
205MANAWATU RAILWAY Gisborne Times, Volume XXI, Issue 1710, 29 March 1906, Page 2
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