HOKITIKA GAS COY LD.

Hokitika Guardian, 22 May 1925, Page 4

HOKITIKA GAS COY LD.

| DIRECTORS’ REPORT. i The Directors in presenting Ihe anI mial rep.'it. sqmend the usual slate- | nn-nls ol e,dinted meounts lor the year j 1:11 shareholders’ infill null ion. j The past ijiiamial year, says the rej :. has been u u unsatisfactory. As let oilin',ended mi last reiiort. ■ L I'HI was j Hall -fell ■ I pi Ihe l-e-elt e I llUll. ail'd la; I lie hail-yea ri\ ha lame a lull her j C2tt:i wa - placed to re rve. which now 'laud- at Ip-. HI. In addition, ail lleces- | Kitry aiteiilinu xva> given to I lie works j and plant, which are reported to he in g..od serviceable order. The revenue lor the 'ale of ga- is an increase on lluil of the previous year, though the total make ol gas ..nos not show a material increase. The enhanced re- ( eipls are due to I lie better condition of the plain, there being less loss throe d] leakage. During Ihe past three years lid new i imsunvers have been added to the Company's hooks, so Hint tii" increased income from the sale of gas will he assured. The sale of appliances is proving of service io tins ('ompany’s business, although ii involj vos the necessity of keeping all additional took of goods oil hand. Sales will now permit of renewing stock w it limn trenching unduly on ordinary inline.". The Works .Manager reports the plant, etc., in very saLisl'atcol'y order, with piping, etc., on hand and paid for, to do all renewals for the next sixmonths. A great deal of the credit for t!ie improved condition of the Company's affairs is due to the close nttontion Mr Heinz pays to the effective working of the plant, and maintaining it in a condition to meet all iiene'diala demands.

It is proposed to add an additional L‘2(H) to the reserve fund, bringing that security up to L'l.cKM), and to recommend a dividend of -Is per share payable on and after the 1 -ftlt dune next. As the onllook for the company is so satis fa tei lev compared xvilli that of a few years jsist, shareholders may he eongraLulaled on the position and cordial thanks may he expressed to th • Works .Manager and his assistants, and the Secretary, lor the i:i iL Ii Tit I service rendered in the best interests ot the 7" *": i!»: • nv. Otto Director, Dr F. Teiehelmann. retires in order of rotation and is eligible far re-election. -The annual meeting of the Company will he ly ld at the Company’s , (iflic-* next Wednesday afternoon at a o’clock.