MANAWATU RAILWAY COMPANY.
A SUCCESSFUL YEAR. (BY TELEGRAPH. —PRESS ASSOCIATION). Wellington, Last Night. Thk annual meeting of the Wellington' Manawatu Railway Company was held to day.
The report (which recommended the payment of a divideud of 5 per cent.) and balance-sheet were adopted. In his address, the Chairman of Directors said he thought he was justified in asserting that the continuous and progressive increase in the volume of traffic on the company's railways was without parallel in the railway records of New Zealand. The receipts showod an increase in rivo years of 73 per cent. Under the new system of taxation the company would pay £468 7s Id less than in previous years. The immediate effect to the finances of the compauy of the change in the incidence of taxation would be very smallmuch less than the directors expected when the Premier in moving the second reading of the Land and Income Assessment Bill observed that the tax on income would be fairer and loss burdensome on one railway company in the colony, which was then paying an utterly unfair contribution under the Property Tax. _ Messrs , Izard and Pluiumer, the retiring directors, were re-elected.
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Waikato Times, Volume XXXVIII, Issue 3078, 7 April 1892, Page 2
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194MANAWATU RAILWAY COMPANY. Waikato Times, Volume XXXVIII, Issue 3078, 7 April 1892, Page 2
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