NEW PLYMOUTH GAS COMPANY

Taranaki Daily News, Volume LI, Issue 193, 5 August 1908, Page 4

NEW PLYMOUTH GAS COMPANY

The thirtieth annual meeting of the New Plymouth Gas Company, Ltd., was held on" Monday. There were presentMessrs. A. Slmttleworth (in the chair), E. Dockrill, T. Furlong, A. McLaren, Thomson, L. W. Alexander, A. J'. O'Learv, VV. L Newman, T. S. Weston, W. C. Weston,.). C. Davies, .1. Handy, '.!. A. Corney, J. tl. Arthur (manager), and C. S. Ronnell (secretary). The annual report and statement of accounts showed that the profits of the year (after providing for working expenses, cost «f coal, management, bad debts, and interest on debentures lo Ist .inly, HUM), including the balance brought forward from last year, amounted to C 3037 His. This the directors had allocated as follows:—To payment of a dividend at the rate of His per share on the first issue (fully paid uni, and a dividend of Ss per share on the second issue (£4 paid up), including the interim dividend to 31st December,

11)07, paid in February last on both issues, £18011; to be placed to credit of renewal account, £soo £2300; leaving a balance of £737 His to be carried forward. .Mr. L. W. Alexander had been

appointed to lill the vacancy on the directorate caused by the resignation of Mr. VY. L. Newman. The chairman, in presenting Ins annual statement, said:—"l have to express my pleasure at being able to inform you that the year's trading again shows a steady and all-round expansion of business. The gas sold reached 18,370,000 cubic feet, an increase of 2,000,000 cubic feet. There are now 1548 consumers on the books, an increase of 103 compared with last year. The company supplied | and fixed 102 additional gas stoves, bath

icaters, etc., during the year; the tota number out on hire being 202—this doei not include those that have been soli jutright. About 3 1 /. miles of new maim have been laid in the borough and sub nrbs, and the gas mains have been extended to Westown. During the yea under review the sum of £4OBO lias boei expended on capital account for exten siou of mains, services, meters, am plant. The figures regarding the pro gross of the company's business dunn; The miinqucnnkl .period from Ist Julj 1003, to 30th June, 1908, form very in terestino- reading. During these iiv voars-in addition to the numerous ex tensions in the borough and outskin -the "as supplv has been extended t' Fil/.rov, Vogellown, and Westown---'] nil about IB miles of new and addition mains have been laid. Consumers hav ■increased from 700 to 1548. lh« ga 5.,1,1 has increased from 12,500,000 euln feet to 18.370,000 cubic feet. In audi li„u to which the plant at the works lull been replaced by new and modern nhi.i of greater capacity. The expenditure oi capital account during the period re Eerred to was £IB,OOO. The system o ■hiring out gas stoves and other heat, -aimliances has proved very success!.i to increase. Debenture ...mounting to £4500 have been i«,bW during the year, and were consideiabl; oversubscribed. The accounts accom „ ving the report show that the tota '.vv.'-nue received was .17802, of wh.e £0172 was derived from the sale of ga? U1332 from the sale of residuals, t. balance, £SB, being derived from U fittings department. This gives a tota &of revenue of £BSO ,as eompar, with last year-a result that must b resided as very satisfactory. The ne Rontonthe year's transaction wa £1934, and, adding thereto the balane. brought forward from the previewyearf brings the total aval able Man < up to £3037. After providing foith n'ual dividend and earrymg: £oM i renewal account, it leaves £(37 to hi - id forward.' You will, I feel sure, 1,0 glad to lean, how we have succeeded with the suburban «te™ ,m * At * ™ •■low of the financial year,_3oth Juni, here were on the company s books W Isuincn «t Fiteroy, 58 at Vo^ltown ind 74 al Westown, making a total- a ■2l consumers in the three suburbs. The retiring directors, Messrs. J_. iockrill and L. W. Alexander, were refected. Messrs. .1. S. McKellar and .1. '. Davies were reap.pointed_auditor3.