THE PRICE OF GAS.

New Zealand Times, Volume XXXII, Issue 4955, 8 February 1877, Page 3

THE PRICE OF GAS.

: — -0 -.,.-,• i The shareholders of the Wellington Gas Company, at their annual meeting, took a very determined course, and expressed their opinion of the past management in very decided terms. It .'may seemistrange to find a body of shareholders' virtually expressing dissatisfaction"; because the company have made too "much" money during ithe past year ; ' biii. they we believe very ■wisely, that the public, from whom the means "of paying such a high dividend'''Was>.;wrung, would not continue to support a company whose sole object appeared to be"to pay an exorbitant percentage" to' 'the' sliare- ; holders and fix an extreme - value on their shares. As pointed out by* one o£ the speakers, : Mr. Hukteu,, T ifc almost I seemed as if the report-was framed to | lure the outside public into, subscribing for the new issue of. shares,';tlie;practical I effect of which would be'to add £IO,OOO to the reserve furidj course mainly benefit the old shareh'olderk The Chairman did his r best,-' 1 but' ;f cduld not carry the shareholders with him r and even his brother directbrs, Mr. A. P. Stuart, said .yery plainly that they differed with him, but virtuallyadmitted that had allowed him to!-";take bis own way. The report was" adopted because it involved •' expressing approval of paying a dividend; but, as. will be' seen 'by our'';? report, Mr. Peakce . almost went. the;', length of moving the rejection of the repott. l Tha feeling of the clearly seen ,when it came to the-(question of electing two directors. The two'retiring, Mr! Levin and Mrl' Bttk'ne,""were proposed for. re-election-jiby the "Chairman. Mr. Levin's nomination was not seconded, pwing tbjttie fact.-of his being absent from the colony, and therefore : a'"MUpt was taken for Messrs. Busne, Huntee, and Kkulli; and the last two 'were elected by *a • very 'large Majority. very sorry for Mr Bdbne, who' fell a victim to' the" obstinacy ..of. the Chairman. ,It was ; felt; that ,a ! changed must bo made; the -shareholders were deterniiried to be trifled with no .longer ; they ■appeared resolvedito assert; theu"2rights, and to think that nomore tiruD beJost in,introducing, a.differentxsys tern ;6E, management/ arid' reducing ! tb7e3price of .gas.,: We are satbued^He,"p'ubjfic will now be "convinced that the: compariyjis in earnest, and that 'there is" that,,their interests will- be,ri'more: considered/ and that of the company less,'than been the case for some .tiiifte^p'asi.