HOKITIKA GAS COMPANY

Hokitika Guardian, 30 May 1929, Page 2

HOKITIKA GAS COMPANY

ANNUAL MEETING. .ue 55th. annual meeting of the Hokitika Gas Coy. was held al the Company’s Office, Stafford St. at 5 o’clock yesterday afternoon. Mr D. J. Fans, Chairman of Directors, presided, and a large number of shares was represented by the shareholders present. After the formal business, the following report was received from the Directors:

The Directors, in presenting this report, append the usual statement of audited accounts lor the year. Since the previous report a year ago, tlu* new holder tins been brought into service, and it is pleasing to be: able to' say, is giving every satisfaction. The Works Manager, Mr G. Heinz, completed the necessary connections and did other work in connection with the finalising of the job, and reports everything most satisfactory. The holder is in regular use and is meeting full requirements. There still remains some direct connections .with the street mains to lie effected, the material for which is at hand, and this will he carried out by the staff under the Works Manager at the first opportunity. Matters at the works have progressed very smoothly, the plant proving equal to all demands. The consumption of gas approximated that of the previous year, which was a record.-Thu output must therefore be considered very satisfactory. Various renewals and repairs wore carried out to the reticulation service during the year. The show space at Mr Shannon’s was increased for the display of gas appliances which are coming more into vogue. The gas cooking demonstrations carried out by Mrs Heinz are helpful in popularising the use of cookers, etc. Very satisfactory work was done' by the staff who give the Company loyal and honest service. The Manager has suggested residential quarters near the Works the better to attend to responsible duties and steps are being taken to arrange the matter. According to promise, a half-yearly dividend of 2s per £6 share was paid, and a further dividend of 2s Od is now recommended, making 4s 6d for the year. It is hoped to continue the halfyearly dividends with the steady progress of the Company.

One Director, Mr Win. Wilson, retires in order of rotation and is eligible for re-election. The retiring Auditor, Mr A. B. King, is also eligible for re-election. The Chairman moved the adoption of tne report and balance sheet, and reviewed the figures in the latter, together with reference to the prospects of the Company. Mr Evans said that during the year the now holder had functioned admirably and was a good asset to the Company insuring its future beyond doubt. In connection with the cost, there remaine'd a liability of £I,BOO by Joan, and that would he reduced year by year. The Company had given the Borough Council a considerable concession by the sale of mo output of the tar. The staff had done admirable service, and generally the work of the Company had run most smoothily.

Mr Wiliams seconded the adoption of the report, speaking in agreement with the Chairman as to the satisfactory' conduct of the Company’s business (luring the year. The proposed dividend was approved on the motion of Mr Wilson, seconded by Mr Preston. Mr Wilson, retiring director, was re-elected unopposed on the motion of Mr Preston, seconded by Mr Park. Mr A. B. King was reappointed auditor. Dr Teichelmann moved a vote of thanks to the staff, which was seconded by Mr Williams and carried. Messrs Heinz and Swcney acknowledged the thanks. The meeting closed with a vote of thanks to the Chairman and Directors for past services.