TAKAPUNA TRAMWAYS

Sun (Auckland), Volume IV, Issue 967, 9 May 1930, Page 11

TAKAPUNA TRAMWAYS

COMPANY’S AFFAIRS FINALISED PIONEER SERVICE A final dividend of T.lsd a share on tlieir holdings in the company was paid to shareholders in the Takapuna Tramways and Ferry Company yesterday by the liquidator. Mr. J. A. Gentles. With the payment of this dividend the affairs of the company have now been finalised. The company, which controlled one of the pioneer'transport services, was set up in 1907. It provided the first transport system on the North Shore, being responsible to a great extent for the opening up of Milford, Takapuna and Bayswater districts. The company was in operation for several years before the first dividend was paid. This was in 1915. when a dividend of 5 per cent, was paid. In the years 1922 and 1923 dividends of S per cent, were paid, but no further return was received until the final payment of 7.15 d yesterday. The two steamers Pupuke and Lake Takapuna, which were on the Bayswater service, were sold to the Devonport Steam Ferry Company in 1927. the latter company taking over these vessel on April 27 of that year. On the same date the steam tramway service from Bayswater to Takapuna was discontinued, being replaced by a small fleet of buses. The property of the company has gradually been disposed of to buyers, some of the trams being sold to the Dunedin and New Plymouth Corporation Tramways, the remaining eight being sold to Mr. D. Geddes, of Takapuna. The total capital of the company of £109,000 was made up of fullypaid £1 shares, and a return of 4s 9£d a share has been made during the 23 years.