CHRISTCHURCH GAS COMPANY.

Globe, Volume V, Issue 532, 2 March 1876, Page 3

CHRISTCHURCH GAS COMPANY.

The annual general meeting of the above company was held yesterday at 4 p.m., Mr W. H, Lane, chairman of directors, in the chair. The Chairman read the advertisement convening the meeting, and called upon the secretary to read the report and balancesheet.

The secretary, Mr C. W. Bishop, read the report, as follows : "In placing this report before the shareholders your directors are pleased to have it in their power to show a satisfactory result of the year's working, notwithstanding the reduced price of gas. " Your directors have, with a view of anticipating as far as pos3ible the requirements of the public, not only earned out very extensive additions to and improvements at the company's works, but have made arrangements for still further extensions. In reference to these improvements, it may he mentioned that your diiectors have brought the negotiations with the Provincial Government, on the subject of a siding from the railway to the company's works, to a satisfactory conclusion, and they have at length been enabled to obtain the benefit of this means of conveyance, which will cause a considerable saving in carriage of coals and other materials.

" Your directors desire to lay before the shareholders the annexed statement of the company's accounts. The profits of the year 1875, amount to the sum of £4300 15s lOd; an ad interim dividend has been paid, absorbing the amount of; £1560, leaving, with the balance brought forward from last year, the sum of £2824 12s 8d now to be dealt with. " Your directors have decided to make a further reduction in the price charged for gas, which, from and after the Ist day of April next, will be supplied at a cash price of 12s 6d per thousand cubic feet. "Your directors recommend that £IB7B 6s 8d be paid in dividend ; £912 6s lOd be carried to depreciation and reserve fund; and £33 19s 2d be carried forward, making a total of £2824 12s Bd.

"Two directors retire by rotation, viz, John Anderson, Esq, and H. J.Tancred, Esq. These gentlemen are eligible for re-election, " W. H. Lane, Chairman, " Gloucester street, Christchurch, "14th February, 1876." The secretary also read the balance sheet duly audited, which showed the revenue account of the year to be as follows : Dr—To stock of coal and purifying material, January Ist, £1996 14s lOd; to subsequent purchases of do, £3745 lls4d; stock on hand, December 31st, £1721 15s 6d; cost of coal consumed and material, stock of gas stoves, &c, £77 12s Id; general expenses, £3144 4s Id; discount and interest account, £Bl3 14s 9d; bad debts, marked of, £2119s lid; balance to profit and loss from working account and from sale of stoves, £4300 15s lOd; total, <£12,378 17s 4d. Or-By revenue derived from sale of gas and rent of meters £10,200 15s 3d; sale of coke, tar, and sundries, £2083 15s 6d; sale of gas stoves, £9O 16s Id; transfer fees, £3los6d; total, £12,378 17s 4d. The profit and loss account for the same period is as follows :—Dr :To interim dividend, paid 2nd August, £1560; balance, £2824 12s 8d ; total, £4384 12s Bd. Cr : By balance brought forward, £BB 16s lOd; balance from revenue account, £430015s lOd; total, £4384 12s Bd. The ehairman moved—" That the report and balance sheet as read be adopted." Hon John Hall seconded the motion, which was agreed to. The next business was the election of two directors in the room of Messrs Anderson and H. J. Tancred, retiring by rotation. Mr Gould moved—" That Mr John Anderson be elected as a director." Hon John Hall seconded the motion, which was agreed to. Hon John Hall moved—" That Mr H. J. Tancred be elected as a director."

Mr Gould seconded the motion, which was agreed to. Hon John Hall moved—" That the sums recommended by the directors to be paid as dividend and carried forward be authorised." Mr lanced seconded the motion, which was agreed to. Messrs H. E. Alport and R. Walton were re-elected as auditors of the company.

The usual fees for directors and chairman were authorised by the meeting, on the motion of the Hon John Hall.