HOKITIKA GAS COY. LTD.

Hokitika Guardian, 27 May 1926, Page 4

HOKITIKA GAS COY. LTD.

The 52nd annual meeting of the Hokitika Gas Coy Ltd was held at the Company’s Office, Stafford Street, at 5 o’clock last evening. Mr D. J. Evans, Chairman of Directors, occupied the chair, and the required number of shareholders were present and the necessary shares represented to constitute a quorum. The advertisement calling the meeting was read and the meeting being constituted the minutes of the previous annual meeting were read and confirmed. DIRECTORS’ REPORT. The Directors in presenting their report ' append the usual statements of audited accounts for the year. Shareholders will be able to note from the accompanying balance sheet that the finances of the Company have been well maintained. The reserve has been increased by a further £2OO and now stands at £I,OOO, which gives the Company greater stability. There has been steady expenditure in maintaining the plant, including renewal of some old mains which were defective and causing leakage and loss. The consumption of gas has increased by 100,000 feet and lias now touched the seven* million mark. The receipts for the sale of gas have in consequence been well maintained, notwithstanding a concession in price to large consumers. The sales of by-products also in.

creased, and there is now a very full denrflnd for tar and coke. Your Directors in the interests of the town gave the Municipal Council a specially cut rate for tar to ensure street and foot-

i- path improvement, and this is being io availed of, the Council having installed le a special plant for the preparation of v the material for street use. The numit her of consumers is increasing steadily, about fifty being added for the year, t- . Sales of gas appliances continue to bo it ; satisfactory and there is every reason n | to regard the future of the Company i- with confidence. The Works, Ala linger has been most attentive to all mnintenio mice works, and has given attention to jf all necessary repairs. Afr Heinz has 0 just returned from a visit made at the ,1 direction of the Directors to the North j Island where lie inspected different j plants in operation with a view to effecting further local Improvements, lie is confident that for an outlay of about CIOO important improvements * can he made in the gas service, imK proving the calorific quality of the com--1 moditv and ensuring greater satisfael 1 ’ lion to consumers generally. A tri--10 luite must he paid the "Works Manager, -1 for his sustained interest in the welfare of the Company, and the standard 1,1 to which lie is bringing the works by I( 1 the economical methods lie is adopting. y In view of the expenditure about to 1,1 take place on the plant, it is not pro--10 posed to add anything immediately to i- the re erve fund. The Directors rote commend a dividend of 5s per share, s, pa ya ile on and after 12th June next, jy In conclusion, while congratulating g- the shareholders on the position of the er Company, it is desired specially to st acknowledge the good services of the rr. staff. The Works Aranager and assistfi- ants and the Secretary are to he vomit mended For their services so zealously t- and generously given in the interests li- of the Company. r _ One Director, Air W. E. Williams, , v retires in order of rotation and is eligible for re-election. The retiring Auditor. Mr A. 1!. King, is also eligible for re-election. I r The Chairman moved the reception j. and adoption of the report and balance sheet. In doing so he referred to the satisfactory position of the Company . which was advancing steadily. Th< balance sheet disclosed a satisfactory ie position, .and with the amount now " 1 standing at reserve, the position was L ” eminently satisfactory. Tribute was paid to the work of the stall', -'in particular the Works Manager (Air Heinz) being praised for his interest and cnthusinsm in the welfare of the Comn* P»ny. The present iniprovemeiits to ft the plant being carried out hv ihe rs -Manager were due to his (Mr Heinz'.-) ;n initiative and earnest interest in the ie works. The Secretary's attention to ’f the tvellnre ol the institution was also ■e mentioned and praised. Dr Teiekell. mu mi seconded Hie motion, and exi- pressed satisfaction at the progress r- made and the position in which the i_ Company stood to-day. >- At the invitation of the Chairman, o -Mr Heinz explained the particulars of l, the gas producing plant which was i, being installed, the effect of which 1., would he to improve the quality of the <1 gas for lighting and heating. His personal visit to Cambridge had been \ useful and lie felt sure the new plant i

now being installed would justify itself by the results. He expressed thanks for the remarks on hi.s behalf, stating his interest in the work’s was largely a labor of love, and he was pleased his efforts were being appreciated. the report was adopted and the dividend. as proposed, was adopted.

Mr V. E. Williams was re-elected 1 Director; .Mr A. B. King was re-elect-ed Auditor.

Felicitations were passed at the satisfactory position of the Company and the amount of interest taken in the Company as a local institution. Mr Preston said there was an absence of complaints, and the gas supply generally appeared to lie satisfactory to the consumers who were increasing in number. Ali- W. AYilson spoke appreeintcly ol the work- of the staff, and considered the prospects very satisfactory. In reply to Afr King, the Chairman said ho thought from now on the Company could revert to half-yearly dividends. Air AV. Shannon said the consumers were increasing in number and general satisfaction was expressed by all using gas with whom lie came in contact. The recent improvements to the reticulation would he very helpful to the Company in the immediate future.

-ATr Swcne.v acknowledged the vote of thanks 011 behalf of the staff, and said matters were running very smoothly. Last year the Company paid out about £I2OO in wages in the town, and the progress being made angered well for the future. A vote of thanks to the chair eoneluded the meeting.