THE MANAWATU RAILWAY.

Taranaki Daily News, Volume LII, Issue 46, 19 March 1909, Page 2

THE MANAWATU RAILWAY.

FINAL IIUi'OHT AND BAI.ANCKSHSET. J3y Telegmph.—Press Association. Wellington, Last Night. The linal report and bahmee-sneet ot the Wellington anil Manawatu 1!ail way Company was presented at tlio animal meeting, held at noon to-day. The chairman stated that alter allowing I'or all outgoings Lhere were balances in Wellington and London totalling .1430,400. The shareholders still had ! the freehold of lands at Tiiorndon taken in at .1)10/200, balances due by land purchases on mortgage ,12fi,2H*4, ( and accrued interest .130,542, Wellington Corporation debentures 1it,700

which, together with cash balances referred to, made the total ass» ts 1513,187. The only liabilities, other than share capital, were sundry creditors 10203. The estimated cost of liquidation was set down at £2OOO. The position disclosed by the balance-sheet warranted the announcement that an early distribution by liquidators of 55s per share should be made* and, provided remaining assets could be realised upon satisfactory terms, a further dividend of 4s lid, or possibly 5s per share, might be looked for. SPEC I A,, PAY.

The chairman announced that it. bad been decided to grant au additional week's pay to all of the company's employees whose length of service exceeded one year and did not exceed live years; a fortnight's pav for those whose period of service was between live and twelve years; and four weeks' pay for those with a record of over twelve years. A special payment had been made to Messrs. llannay (manager). Marehbanks (engineer), Cook (accountant), and Harold (London secretary), in recognition of their services. These sums, with moncv distributed among the general stall','totalled IS,OIK). This amount had been taken from special accumulations of previous years, put aside, for the purpose.