MANAWATU RAILWAY CO,

Rangitikei Advocate and Manawatu Argus, Volume XXXIII, Issue 9110, 1 April 1908, Page 5

MANAWATU RAILWAY CO,

A RECORD YEAR,

Press Association. Wellington, April 1

At the annual meeting of the Wellington and Manawatu Railway Company to-day the Chairman stated that the year just closed was a record one for the volume of business done and also for the greatest individual increase in any one year. He doubted if the most sanguine of the directors dared to hope last year that the ensuing twelve months’ operations would result in an increase of revenue amounting to £15,918. In the past two years the aggregate increase totalled £28,099 or approximately 16 per cent of the whole revenue for the year. Continuing his statement the Chairman said the number of passengers carried during the year incresaed from 510,506 for 1907 to 601,250, and accounts, with parcels for £9355 of the improvement in the revenue. The goods carried during the year amounted to or 15,719 more than last year, and accounts for £6168 of the increased erevenue. The expenditure increased by £14,214 and amounts to 60.2 per cent of the receipts. The sum avaialble for dividends is £44,941, and it was proposed to pay out of this a dividend of 4 per cent., , making, with the interim dividend of 8 per cent already paid, 7 per cent for the year, and to carry forward the balance, £38,141. Referring to the matter of taking over the line the Chairman said: “At the present juncture we can only await events, but we are quite prepared to facilitate and assist Government in the acquisition of the line in • every way consistent' with due regard to the interests of shareholders.