AUCKLAND GAS COY

Hokitika Guardian, 3 February 1926, Page 1

AUCKLAND GAS COY

ANNUAL .MEETING. AUCKLAND. February 1. Tiiu ;t 111111:1 1 meeting of the Auckland Gas Company was held to-day. Mr J. H. Upton presided. Tll moving the adoption of the annual report and balance-sheet, the chairman said : ' U r have pleasure in again meeting you with a satisfactory report of work for the past year. Taking first the credit side of accounts, the first item, sale of gas at £-110,041, shows a decrease of £3.812. and may at first sight suggest that we have suffered a decrease of business. That, however, is not so, hut on Flic contrary. there is a substantial increase. You will remember that last year we made a. reduction of Id in the price of gas. The consequent reduction in the revenue for the eight months affected amounted to £IB,OOO, and the city discontinued lamps, which lessened their payments by Cl 500. These two items together make £10,500. New business however, made up that sum except £3812. n very satisfactory result. Residuals. fittings, etc., contributed CT0.138, an increase of £509". On the other side, manufacture has cost £24,689, an increase of £BOO. Distribution stands at £64,807, nil increase of £l2Ol, management a decrease of C 100; rates and faxes are less by C 2435. The total revenue is £190,807 10s. and (lie expenditure £411.501 11s -Id. leaving a balance of £70.305 0s lOd wherewith to pay a dividend of £78,282 15s 7d, of which £38,715 15s 4d was paid in July, leaving, after taking into account last year’s balance at credit of the profit and loss account £38,474 6s 8d to he carried forward. Capital expenditure is £90,433 18s Od. a decrease, of £31.085 : buildings and machinery account for £26.201, mains and services for £53,797. meters £8989, and land for £1355. The money was provided by a call producing £24,107 16s, and ilie balance by temporary loans. “ A few statistics will interest you.” continued the chairman. “ Gas sold is I. cubic feet, an increase of 4 7.230.000; mains laid to date are 547 miles, an increase of 35 miles for the year. The number of califonts sold increased by 18 per rent over last year’s sales. Consumers number 42.641. an increase of 2272 for the year, and the number of employees is 8.38.”