The Sun.
London, England, 1867-04-12 00:00:00

IMPERIAL GAS.

The half-yearly general meeting of this company
was held yesterday at the offices, John-street, Bed-
ford-row; Mr. E. V. Richards, governor in the
chair.

The CHAIRMAN, in moving the adoption of the
report, an abstract of which has appeared in The
Sun, said that, owing to the increased value of coals
and wages, the company were unable to pay the
usual 10 per cent. without having recourse to the
reserve fund. The new shares had been well taken
up, but there remained a few which the directors in
the present depressed state of gas property had
not taken extraordinary means to place. There
was, however, no doubt that they would ulti-
mately be applied for. lie then reviewed the
Parliamentary gas legislation from 1847, issuing
in what was known as the " districtng " in 1866,
which secured to the metropolitan companies 5
dividend of 10 per cent. so long as they faiithfullY
performed the duties imposed upon them. Those
duties, it was well known, had been rigorously ful-
filled. However, the present Government had thought
proper to introduce a bill which was absolutely un-
precedented in its character, because it was proposed
14-candle gas should be supplied at the rate of as. 6d,
per 1,000 feet of gas, whereas the company now
charging 4s. per 1,000 feet for 12-candle gas could
only earn a dividend of 9 per cent. No less than
3,000 petitions had been presented against the bill,
many from water companies ; and the railway com-
panies were ready to come forward, because it AV°
felt that every species of property was menaced.
He had no desire to say a word against the gentle-
men who drew the bill, but speaking in racing phra-
seology, it seemed to him to be got by a pleader out
of an analytical chemist—(a laugh) —and was alto-
gether inaprauticable. Then certain tests as to the
amount of sulphur were proposed, but these were se
unsatisfactory that it might result in penalties hav-
ing to be paid to the extent of £lO,OOO or £12,000
during the half-year, because they all knew hevi
astute chemists might be to detect the sulphur. Thou
at the end there came a clause enabling their much
respected friends, the Metropolitan Board of Works
laugh)—to buy them at a reduced rate. (Irear'
hear.) He had no desire to say anything disrespect-
ful concerning Sir S. Northcote, whose courtesy °°
all occasions he acknowledged ; but he hoped tha.t
when the bill was brought forward after Easter It
would be found that the British House of Coninloso
respected the rights of property. (Cheers.) lie c°11;
' eluded by moving the adoption of the reports all'

accounts.
A PROPRIETOR said he understood the bill Vs
withdrawn.
The CHAIRMAN replied that that was not the case'
Dr. BEATTIE inquired who was to pay the charges
of the inspectors.
The CHAIRMAN said that one of the many adinir-
able features of the bill was that the companies were
to pay for the broom out of which the birch IY3°
made, and the pickle, too. (A laugh.) •
The resolution for the adoption of the report and
accounts then passed unanimously, as also did
motion for the payment of a dividend as reconl"

mended by the Board.
Said
The CHAIRMAN, in answer to a proprietor, 0
he did not know whether anything had been d°l3,„
to form a Shareholders' Defence Association,
suggested by the Surrey Consumers Gas Company
The retiring directors and auditor having VT
re-elected, a cordial vote of thanks to the 801.
and also to the secretary, brought the proceedia
to a close.