HOKITIKA GAS COY LD

Hokitika Guardian, 26 May 1927, Page 4

HOKITIKA GAS COY LD

.33rd ANNUAL 31 LUTING. The -33rd annual meeting of the above Company was held at the Company’s office, Stafford Street, at ,5 o’clock yesterday evening. Mr D. .J.' Evans, Chairman of Directors, occupied the chair, and there was an attendance of shareholders who with

proxies represented, provided the requisite quorum. The minutes of the previous annual meeting were read and confirmed. DIRECTORS’ REPORT. The accompanying balance sheet reveals a satisfactory position as far as the finances of the Company are concerned. There has been an increase in the consumption of gas which now approximates the eight million mark.

This has been brought about by all increase in the number of customers^as well as by a considerable extension in the use of gas heating and cooking appliances. The gas cookery demonstrations carried out so satisfactorily by .Ill's Heinz, have been most helpful in satisfying consumer', present and

prospective of the utility of gas in cooking and its economical value in time and fuel. The sale of by-pro-ducts again shows an increase with a full demand for all tar and coke available. In the interests of the town as much tar as possible is being reserved for the Borough’ Council in the carrying out of its public works, thereby securing improved roads and footpaths for the public. The increased sale of

gas appliances, already referred to, has been assisted by Mr \V. 11. .Shannon, at whose premises a show window is maintained and a well-selected stock of useful household gas appliances arc always on hand. The nil-round result from the trading branches is un increase in rove nut*, while with the improved plant installed under the advize of the Works Manager (Mr G. Heinz) various economies possible on the expenditure side, have assisted also to provide extra funds. Acting on the advice of the Tories .Manager (who supplies a separate report herewith for the information ol the shareholders) Mr J- Kennedy, oi Grcyniouth Gas \\ orks, was consulted in regard to the condition of the gas holder at the works. 'I his lias been in use now for over fifty years, and though every care has been taken ol d . it is showing signs ol wear, and the

position is such that your Directors, acting on the expert advice received, have decided to order a new and larger gas holder from Clayton, Son aim Co, Ltd., of Leeds, England, to he delivered here in about six months’ time. The gasometer is being purchased outright, nnd oil arrival will be erected o:i the freehold of the Company by tin*

Despatch Eoundry Coy., ol Greymoutli. Additional particulars in respect to the purchase of the plant in question are supplied in tin* accompanying report from the Works .Manager.

An interim dividend of 3s was declared at the half-yearly balance. A further dividend of 2 s per share is now recommended, payable on and alter 13th June next. In addition d. is recommended £2.50 he added to (lie reserve fund which will then stand at £11250.

Tlie shareholders may be rang rat idted on the sustained success of th-

Company which continues to grow in public favour. There is no doubt the Company is giving ils consumers a good sor*. ice and whore possible that I ■ being steadily improved. lie Tor!; Manager and bis assistants and til * Secretary aro rendering very loyal services to the shareholders, tor alter all it is due to their attention to the interests of the consumer and shareholders alike that the Company has prospered and is able to render such well-sustained service. One Director, Mr I). ,1. Evans, retires in order of rotation and is eligible for re-olect.ioii. The i c-firing Auditor, Mr A. !!. King, i, also eligible for re-election.

AVORKS MANAGER'S REPORT

Reviewing the past year’s work, the sales of gas, coke and tar have been good. From a sales point ol view

—under oar new system of carbonisation—oar gas revenue has increased about £3OO. with, a decrease of coke and tar equal to £SO. 'i ho latoly-in stalled gas producer and engine are

giving great satisfaction, and I anti-, eipate a substantial .saving ol coni this coming year. The bench of retorts we are working is still in excellent condition after six years' work, and we hope to get a few more years’ service from them yet. The new Calorimeter is a faithful servant to us as well as a useful watch-dog. The exhauster and purifiers are in good order and with

the new stock of oxide (£120) wc should have enough for many years to (ome. The gas-holder is our weakest link between the works and consumers —it is quite possible tlint, we may yet get a lew years more work out of the holder, hut at i*. risk. The works is the only one in New Zealand ol its size that has only one gas holder, I The new holder which we contemplate erecting will give ample storage for | increased sales of gas, a better oppor-i tunity to keep our calorific value even, and save coal. At the same time it-l

will give greater satisfaction to our consumers. ft will, also, ho an insurance against any temporary breakdown of our producing plant. This now spiral guided holder will ho of) ■IO,OOO cubic l'cet, and will bo built of extra heavy material. It will have double the canncity of the holder now in use. Received. The Chairman moved the reception . and adoption of the foregoing, as also | of the balance shoot, copies of which j had been circulated among shareholders. In doing so. the Chairman re- | ferred to the continued success of the i Company with increasing output and income. He referred specially to the _ action in ordering from England a new gas holder. This when installed would cost £ICOO. The present holder had been in commission since the inception of the Company, and its present condition combined with the growing business warranted Clio renewal. It would be the end of the year, or later, before the new bolder could be in commission. Mr W. E. Williams seconded the motion for the adoption of the report, which was supported by Dr Teichelmnnn and Mr S. J. Preston, all of whom as directors, supplied information as to the operations of the | Company during the year. The motion for the adoption of the report and balance sheet was adopted. ; The proposetl dividend of 2s per i share, making os per share for the year, was agreed to. The dividend will be payable ,on the 13th prox. Mr D J. Evans as the retiring di- , rector, by rotation, was re-elected. M r , A. B. King, was re-appointed auditor , for the Company at the usual fee. It was stated that Mr King bad now | ( occupied the position for some forty j years. < A cordial vote of thanks was passed to the staff, special mention.being made of Mr Heinz’s good work as Works j 1 Manager, and Mr Sweney’s faithful | services as Secretary. Both officers . acknowledged the tribute, and Mr , 1 Heinz gave an interesting re- ( !1 suine of work about the works.

ami the state of the plant generally. He spoke very optimistically of the prospects of the Company, stating with the new -holder there would be *

more scope to expand and the facilities for seeking wider business connections with a better storage for the gas. | The annual meeting for next year was fixed for the last Wednesday- in May. A general discussion ensued in re- - gard to matters affecting the prospects of the Company, and the Works Manager was asked to take up some ol the points with n view to further action nt a later date. The meeting concluded with a special vote of thanks to tiie Chairman whoso work in the interests ol the Company was highly tnbntcd.