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Hokitika Guardian, 26 May 1927, Page 2

Tub Hokitika (las Coy Ltd. may lie regarded ns one of our most .successful local institutions, Yesterday the fifty-third annual meeting of the Company was held, mid a very satisfactory report, was presented: The report find the figures given from the balance sheet gave evidence of the economical working of the Company. The Company has provided a good service for the town over half a century, and casting the memory hack it must he admitted the public lias been well treated. The Company lias never strained after large profits, but the management lias been content to carry on the Company with the chief consideration for the service if was able to reiuibr. The bunnies of the Company appear to be in a healthy condition and the usual moderate dividend is declared One important decision this year is that of obtaining a new gas holder. The gas holder in use for over fifty years is the one part of the plant, it was not possible to do much for in the way of renewals The time has now come for its replacement in order to supply a larger gas holder to meet the increased business of the Company and to give a

more assured life to the Company by placing it lieyond the possibility of serious accident dislocating the regularity of the supply. The new holder is to have twice the capacity of the present one, and will give the Company enhanced security in every way. The cost is considerable—one third of the original capital of the Company—• but this is to be met without unduly pressing on the shareholders. The fact that the income of the Company is increasing will bo a factor in providing for the repayment of the capital cost and the future in that respect is being faced cheerfully. Xo doubt the directors are acting on the best advice in tile matter, and their action in the matter will assure the future of the Company in a very definite manner. The Chairman of Directors indicated that payment of the liability was to be spread over a period, and tIiQURh this jyopld lessen the dh-i-

deml payments, it would not prevent their payment at a reduced amount. The net result so l'ar as the shareholders are concerned, will bo a greatly enhanced property, thereby greatly arousing the uninterrupted life of the Company over another long term ot years. The Hokitika Oas Company is therefore destined to continue its useful service to the town for an indefinite term, and as the service is of such value, all connected with the institution are to he congratulated on the success of the past management, and to wish the Company continued success in the future.