MANAWATU RAILWAY CO.

Rangitikei Advocate and Manawatu Argus, Volume XXXI, Issue 8777, 3 April 1907, Page 2

MANAWATU RAILWAY CO.

Press Association. Wellington jijApril 3. The annual meeting of the Wel-liugton-Mauawatu Railway Company was held to-day. IVir Kircaldie, chairman of directors, in moving the adoption of the annual report and balance-sheet, said the gross railway revenue for the year was £l-11,040, an increase of £13,180 over the preceding year. The number of passengers carried increased from 456,300 to 510,500, improving the revenue under this head by £6870. The gross tonnage carried amounted to 119,0(50 tons, being 10,700 more than the previous year. There were increases in cattle, sheep, minerals, flax, wool, and ordinary merchandise carried, but a falling off of timber. The, expenditure for the year was £81,195, or £85)15 more than last year, the increases being largely due to increased tonnage and the improving of the conditions of the railroad, now cars, etc. During the year the not profit from lauds sold was 4£937. The total not profit available for dividends was £30,7(57, from which sum it was proposed to pay a dividend of four per cent, making seven per cent for tiic year, and to carry forward £39,5)07. Ho again referred to the proposal to wipe off £170,000 worth of debentures out of the funds of the company, and compensate shareholders by making their shares £3 paid up instead of £l. The report aud balance-sheet was adopted, aud a dividend at the rate of four per cent was passed. The retiring directors, Messrs Barry, Kircaldie, aud Plimmor, were re-elected. At a meeting of directors held subsequently Mr Kircaldie was reclectcdchairmau.