PROPOSED ELECTRIC LIGHT COMPANY.

Globe, Volume XXIV, Issue 2604, 11 August 1882, Page 4

PROPOSED ELECTRIC LIGHT COMPANY.

A meeting of gentlemen favorable to the formation of an Electric Light Company in Christchurch was held last night at the Commercial Hotel. Fourteen gentlemen were present. Mr B. Walton was voted to the chair.

The Chairman stated the object of the meeting. A circular had been signed by fifty(our of the leading business men in the city, who had thereby agreed to take np 5200 ■hares. These remits had been obtained by bimaelf and one other in such time during the past three days they could spare from their business, and included the largest consumers of gas in the city. It was for those f resent to say if a company should be now ormed, and if so, to chose a provisional directorate and make preliminary arrangements. Ha would state briefly it was proposed to float a company with a nominal Capital of £ IOO,OOO, in £1 shares, payable thus— Sj 61 on application, 2s 6d on allotment, with calls of 2s 61 at no shorter intervals than three months. He would now call tor an expression of opinion on the matter. Et had been said that the company would give large bonuses for patents, but it would do nothing of the sort; they would do the best tot all parties concerned. In reply to Mr A. Moore, the Chairman read a latter from Sir Julius Vogel, and also one from. Messrs Oppenhcimer, of Auckland. "Hiff-Totter from Sir Julias stated that the company ho represented owurd the Brush ■re light, specially adapted for lighting iitreets, markets, and railway stations; also the Lane-Fox incandescent light, suited for bouses, trains, mines, ships, &o. After remarks from Mr A. Moore and Mr Hrederick Hobbs, the Chairman said he thought the company should be formed without delay. His only interest In the matter was that the price of gas was excessive, end bore heavily on all iu trade, and they should do all they could to mitigate the evil. They had the list, why not form the company, with a provisional directorate.

After remark* from Mosers Mcßae and Malcolm, the Chairman replied that, had time allowed of the city being canvassed, bo felt sure 40,000 shares would have been taken up, bat once start the company, the venture Was safe, He hoped they would not allow ttia_ scheme—like most Christchurch projebtions—to fall through. It would come here, sgd why not start it themselves, instead C f having jt secomt-hand from another New Zealand city. If a o'mpany was at once started, the proposing shareholders would not be in a worse position. If what Mr Hobbs suggested was agreed to. the thing would die ■Ut.

Mr Ekberg gave statistics as to the cost, ftc,, of the necessaries of the electric light Scheme for Christchurch, stating that he was quite sure that only 5* in the £ would bare to be called, up on each share. Mr A. Moore would test the meeting by proposing—“ lhat the company, as proposed, fee formed."

Mr Mcßae seconded the motion, Mr F. Hobbs proposed, as an amendment " That a committee of the promoters be formed, consisting of Messrs Mcßae, Walton, B. Strange, Hobday, W. J. Olliver, Warner, and tbs mover, to obtain further information, and to report to a meeting to be held on August 17th; such committee to be justi«ed in incurring any reasonable preliminary liability.”

Mr W. P. Warner seconded .'the amendment, which, on being put to vote, was declared carried.

A long desultory discussion ensued, and ssltimately It wm agreed, upon the motion of Mr B, Richardson, seconded by Mr Coker—-

" That this meeting adjourn for a week, to receive the report of the committee appointed.” A vote of thanks to the chair terminated the meeting.