FOXTON-SANSON RAILWAY CO.

Manawatu Herald, Volume III, Issue 83, 17 June 1881, Page 2

FOXTON-SANSON RAILWAY CO.

; The annual general meeting of ahareholdera in the above company was advertised to.be held at the soboolhouse, Sanson, . on Monday evening last, at 7 o'clock. At that honr the attendance was very limited, and as 30 shareholders were required to be present to form a quorum, those present, after waiting pne honri as required by law, returned to their house?; much disappointed. Those shareholders who attended were 'Messrs H. Sanson (Chairman of the com- , pany). Edwards, Cockburn, Farmer, Kirkbride Phillips, Russell, Risk, Croucher, J. A'Court, Speedy, J^Baily, Bruce, J. Bowater, Anderson, Pierce, and a few of the general public The requirements of the Joint Stock Companies Aot are that if a auorum of shareholders do not attend at lie time and place when and where the meeting is called, it stands adjourned for 24 hours, and that if a quorum it not then present, it is adjourned sine die, Mr Sanson therefore adjourned the meeting until Tuesday, at 7 p.m.", but at that hour, despite every effort that had been made, only some 24 shareholders were present, and the meeting was therefore adjourned sine die. Subjoined will be found the Directors'|Report and Balance Sheet, which were to have been presented to the meeting "had a quorum attended : — directors' report. " The Directors have not yet obtained the Governor'scoDsent to the twnstruction of the Foxton and Sanson railway. "The company was informed by, the r , Government in June of last year 'that it <?<•' was proposed to amend the District Railways Act in some particulars daring the session of Parliament' then ensuing, and that the Government did not wish to- ' urge the construction of district railways until the amendments were, .made, but unfortunately the session closed without making such amendments ; consequently the Directors have not been able to proceed with the construction of the line. "It is, however, understood that the question of district railways will be dealt with during the present session, and that such amendments will be made in the Aot as to greatly facilitate the construction of district railways by companies formed for that purpose. 3 "The Directors would remind shareholders that it is almost certain that the much-needed Wellington-to-Foxton railway will be constructed . within a reasonable time, which will make it ah easy matter for the directors of the Foxton and Sanson Railway Co. to obtain the money necessary, -- to construct their line. " ' " The mutual advantages of haying these two lines constructed at thtrsame'time will be considerable, as the Wellington aid Foxton line will bring Sandon and Caraarvod, as well as the whole of the West Coast, into railway communication with the Empire city, and the construction of : the Foxton and Sanson line will open up more than 300,000 acres of the best agricultural land in the colony, which will yield an ever-increasing amount of traffic 1 to _ the West Coast line in the shape of farm ' produce, and will tend to encourage the full development of these .districts, more than anything else can possibly do. " The Directors therefore propose to colject the unpaid portion of 'the first call ' of 5s in the £ on the shares alloted and thereby prepare' to vigorously push on with the construction of our line as soon as the matters above referred to are settled.

I "H. Sanson, Chairman." Balance Sheet at 3l«t May, 1881. EIABIMTIKB. ' " ' - To capital called up, being first call ordeposit on application' , . : •::■*- .-.t on «000 shares at 5s .. £1600 0 • ' ' ' Less I3H shnreß unallotted and in hands of directors at Ja ■ 327 15 • 0 Leaving 4tiß9 shares on regißter atSs , ..- „. —U72. 5 o To second or allotment aril ■ paid in advance as per share register 15 0 £1173 io' oF ) / ASSETS • . -' i ' By instalments on application due and owin&on 1810 shares at (? each ... £452 10 0 railway pegs onhaiid .."■■ .. .. rj 0 'jjf.'.tjt balance in band at Bank 1231011 leas outstanding cheques 8 16 0 .'-■•■-ui-J IMIS 11 balance, be<ng profit and 1088 .. .. 604 4 1 1 ' » £1178 10~0 Profit and Lqu StatemieflW : „ . .-; - ,-x To balance «8 per May .81, 1880, „f ;«7ia lSf'4' " Charges Account „ ... ig'f.'O - ' ■"■■■*■■ Petty Cash Account ;.. ' ... '9 0: t • ' ; "/jj . . , "■ f ;-,;ar-.«a i^ ;, t Bybatahce .. .. .'. ..; ' .. £«©< Audited and found correct— A, Campbell ° ■ ■■ June 11, 1881. l', " • '.. 7 . ., ■ General Balance Sh6et as at 31»t Jtfay.lßßl. , 't 6 capital, 6000 shares atr „ , ■•' .- ' ",, Sseach .'.80,000 0 0 > " ■■'■ ; ' V:u ' : Xess 1311 shares unallotted 6,55s 0> O ' . .-■.^.' 'Leares 4,6B9 shares f : r . ' r ;ili M.446 0Q „ , ■ „■• v , • • ■*-:'/£%WWv*- d ' By share ledger, balance as per trial '•■ | " i ■■"' ; . '" - sheet „■. •:; ' ;.'jßi2,^B4.i Q-'O" : V -„. balance Survey Stock Account ..; j* o'io'I" Bank of New Zealand .. 114 15 11 "" Profi t and Loss Account . 604 '4 ; - 1 w , Jt ... £23,4«^ O.i"Examined by me and found correct,-- '. • . i Jane 11, 1881. ■ ■- T:i •■'•••■ .^~* , .n