HOKITIKA GAS COY LD.

Hokitika Guardian, 28 May 1925, Page 1

HOKITIKA GAS COY LD.

I' II•TfT-FIRST ANNUAL MEKTI.M

The tifty-lii'st annual meeting ol the Hokitika Gas Coy.. Ltd., was held at ihe Company’s Ofibe. Stalford Street at r, o'clock yesterday afternoon. Alt' |). .1. Evans, Chairman of Directors, presided ami eight shareholders holding the necessary number of shares ;i;

proxies wore present-. Vital' disposing ol the formal business. lit,' Chairman moved the adoption of tl.o annual report las already published! alkl l.iiliillee sheet, eopies ol vvliit'll had lieen eireulated among shareholder -. In doing so Mr Knms said that thanks to the faithful services of I he stall’, the Company had a good year. I. had lieen possible to add £.‘!<>U to the reserve fund. bringing that security up to 18(10. In addition all noeessai'v nliention had Iwen laid to plan! out of revenue. The plant was in ,d order, and everythi iilc about the works satisfactory. The Works ATanatter. Mr Heinz, and tiro Secretary Mr Sveitcy. had hoi h been very conscientious in the discharge of their dailies, and with the other members of the staff left little to he desired. .Mi - l* rest on sooon<!t'<l tin* motion which was rnrried. The proposal to add an additional £0()f) to the reserve fund, and pay i is dividend per share on the l‘2lh. la-ox., vas moved by the Chairman. With the proposed addition the reserve fund would stand at £ 1.000, and t! question of increasing that security ialcr could ho "one info so as to provide for all contingencies. The interest earned by the reserve fund could go towards future dovidonds. and would maintain the value ol the shares. the th was .seconded by Mr W. Wilson and carried.

U was reported Dr. K. Teieholinaiin retired from the directorate by rotatton. Inn vas eligible lor rc-eleelimi. Hein" the oiilv candidate Dr. Tctcholmann was declared elected, ami a.know lodged his re-election. Mr A. It- King was reappointed auditor at the usual fee iixed. Chairman in moving a vote of thanks to the stall’, suggested a bonus might he granted the employees. Mr Preston seconded the proposal being supported also by Air W. K. Williams and Mr W. 11. Shannon, ft W«« decided to appropriate 00 paid up shares to he divided among (be stall on the basis of last year's division. Mr SvetlOV oil bt'hal! ol the .stall thanked the meeting for the vote of thanks and complimentary remarka s also for the suggested bonus, which he was sure would he appreciated. A short discussion took phu e on the satisfactory position of the Company, and the meeting closed with a vote of thanks to the Chair.