The annual meeting of the Shan: Waterworks Ca., Ld., was held at the otices of the company on Friday afternoon. Mr.
eLead (Chairman of Directors) presided, and there were also present Messrs.
M. Dyce, J. W. Hardin: Cooper. Directors; and A. M. Reith, a. J. WH. Carlil, PH. Pareell, J. M. Young, and A. P! "Wood, representing ether 1,601 shares, "The notice convening the meeting was read, after which, Vhe Chairman' said—The report and accounts for 180) have been cireufated as usual, and Chave no doubt you will teke them' as read, The directors trust you will consider them so tis fact ing, as they do, a consider: in the revenue, and a v in the expenditure Vaking the working account we fi that the total revenue for the past year has been Ts, 239,909.73, as 223,392.73 in 888, oF a me 7 which is very satisfactory. On the other band the expenditure Tas been Ts, 84,210, Tls. 79,034.84 in 1898," which means Tls. 5,155.78 inerewse, Ido think it is necessary to yo is all the different items, but ther of the whole year's working is that Dave w balance to the credit of the working account of Tls. 155,789.11 as against Tis, 144,337.89 in 1808," or im increme of Ths, 21451 22, In the balance sheet you will see that the expenditure on real estate extensions and new works amounts to Ths. 5, E73.45, Tu refs rence to new works carried out, during the year, we were very forty in having made our contract fur the 40 pipes, and other materials connected with the new intake, atthe time we did, us replace the order xt the me would have added fully 30 per cent to the cost. The work has been successfully completed, and proved of great assistants reservoirs. In addition to the al there is the completion of the 20-inch contri fuge pomping scheme, allowing the reservoits tu be filled to their fall capacity at neap tides, while by raising the walls their capacity will be inereaved nearly 40. 1 uso Jarge a storage one filtered water allows longer time for ttling, consequently the heavy matter in the water is precipitated in the reservoir, greatly relieving the filter beds, The construction and erection wf the Buller and Pamp, with all the necessary suction and delivery pipes, ete., hax bee most satisfactorily completed by Messrs. and Ca, La. Tinay add, to that, that the supervision Wow and his dial of the Directors and shareholders, ave decided to build a house for the in charge at the Pumping Static as we think by his residing ye much better able to. ssu work. The m have been districts as called for, t considerable expenditure we have incurred during the past year, the Directors thought it necessary to issue Tls. 110,000 debentures. It will he satisfactory to know that these were all taken up an average premium of 1.30 per cent, the debentures being applied for more than twice over. Before sitting down 1 wontd ko to express the sorrow we feel at the ies of Measrs, E. F, Duneansom, J. Ringer, t. Wood, and LIS, Hart. Messrs, Duneanson, Ringer and Wool had been connected with the company since its ception, and had, each of them, rendered good service to the company. I think the shareholders will agree that the company has sustained a very severe loss in these four deaths. questions were asked, and the Chairman proposed that the report and the Board, but, being eligible, offers himself accounts for the year 1899, as presented, j for re-election. he accepted and passed, The Auditors, Mr. Dru mond Hay and Mr, C. M. Dyce seconded, and it was; C W. Wrightson, also retire, but are carried unanimously, to serve again if re-elected.
The Chainman proposed that a final
Text read from the printed page and cleaned; old type leaves the occasional error.