Manawatu Railway Company.

Manawatu Herald, 24 March 1898, Page 3

Manawatu Railway Company.

The text of the report of the "Wellington and Manawatu Railway Company (Limited), to be presented at the annual meeting, which will be held in the hall of the Chamber of Commerce on Wednesday, 6th April, is as follows: -"The directors beg to submit their seventh annual statement of acoounts to shareholders for the year ending 28th Feb., 1898. Owing to the opening of the Government railway to Woodville, the gross earnings of the railway were only £92,793 7s 9d being £2068 123 4d less than last year. Land was sold during the year to the value of £17,789 83 Od. Your directors recommend the payment of a dividend of 5 per cent, on the paid-up capital of the company. Messrs. Macarthy and Plimmer are the retiring directors, and being eligible, offer them* selves for re-election. Messrs. Eember, and Stuart, the retiring auditors, also offer themselves for re-election." The balance-sheet shows that the gross total of trafic receipts for the year was 492,678 17s 4d,and the income from land amounted to £15,909 7s 6d. The other receipts, together with the balance brought forward from last year, bring the total to £129,016. The profit and loss statement of the railway account shows that after providing for all outgoings, including interest on debentures, £84,000, there is a balance of £8839 183 Id available for division amongst shareholders. , From the land account a sum of £1940 8j is also 3hown as divisible profit, and these two items, added to the amount carried over from last year, makes the total available for divdend £25,* 024 103 lOd. The amount spent on rolling stock during the year was £5020, and rates and taxes absorbed £6441 14s 6(3, equal to nearly 4 per . cent, on the paid-up capital of the - company. — Post