WELLINGTON GAS COMPANY.

Gisborne Times, Volume XXVI, Issue 2106, 4 February 1908, Page 2

WELLINGTON GAS COMPANY.

ANNUAL MEETING. Press Association. WELLINGTON, Feb. 3. The annual meeting of the Wellington Gas Company was held to-day. The usual dividend of ten per cent was agreed to ; £lO was placed to the works extension reserve, and £11,798 carried forward. The chairman stated that the net profits exceeded those of t-lie previous year by £7609, and the average increase during the past fivo years was over ten per cent per annum. The increased quantity of gas made last year was 13.24 per cent over that of the previous year. The company had purchased fourteen acres of land at Miramar at a cost of £8922, to extend .its business. The new works would be erected there during the next three years. Air. W. Ferguson, secretary and engineer to tho Harbor Board, had boon engaged bv the company as general manager at a salary of £1.5( 0 a year for five years, without ti e right of private practice, except that ho was permitted to act as consulting engineer to the Harbor Board. The company, in view of the heavy expenditure before it, did not reduce the price of gas below the present rate of 5s 5d per thousand feet, Messrs D. Anderson, J. Barry, and H. Beauchamp were re-elected to tho directorate