The Sun.
London, England, 1867-08-30 00:00:00

WESTERN GAS.

The half-yearly meeting of this company was held
yesterday at the offices, Argyll-street, Regent-street ;
Mr. F. W. Russell, M.P., in the chair.

The CHAIRMAN, in moving the adoption of the
report, an abstract of which has appeared in The
Sun, said it required little elucidation. He referred
to the bill which had been thrown out in the past
session, and said if the companies were left to con-
duct their own affairs without interference, it would
be greatly to the advantage of the public at large.
The house seemed to forget how long the companies
had paid no dividend at.all ; and the average divi-
dend of the Western had been 5i per cent. Those
who were loudest in their complaints about divi-
dends would be little prepared to receive only the
same rate upon any capital they had embarked in
their individual undertakings.
Mr. L. SIMPSON seconded the motion.

Mr. :SLATER thought the amount of bad debts
wastn
f iatcetn ,
"sundrybeing
only £5BB ; and called
te
creditors, £14,587."
Mr. DOANE asked whether the companies had
ahtiiognhlytosat theis
done anything towards amalgamation.
Mr. WILMOT KNIGIIT referred to the item " Par-
liamentary and Incidental Expenses," £1,873, and
inquired how much was due to 44 Parliamentary"
proper. He also asked what was the current rate
which the company was paying upon its loans in
these days of a money plethora.. Referring to the
agitation going on among the:gas stokers, he said
with every desire to assist the working man he had
read the letter appearing in the newspapers of that
morning signed g 4 A Stoker," but it seemed to him
that the communication of 'Mr. Phillips, tne secre-
tary to the Chartered Gas Company, made out an
answerable case. He proved beyond dispute that the
stokers earned good wages and had many privileges.
Mr. A. GRAY said the price in the city had been
reduced voluntarily from 15s. to 6s. per thousand
cubic feet, and deprecated the constant attempts
made to undo a Parliamentary compact. He did not
believe that amalgamation would reduce the price
2d. per thousand. With regard to the stokers, in-
stead of their employment being for 12 hours out of
the 24, in the city they were absolutely engaged
only four hours ; and there was no ground for the
complaints which were made.

The CH kIRMAN, in reply, said the company only
exercised its borrowing powers as the business ex-
tended. The Parliamentary expenses had been
£1,200, and the average rate of interest on loans
was 41 [per cent. He thought Mr. Knight had
taken a right view of the question connected with
gas stokers. lie agreed with Air. Gray on the sub-
ject of amalgamation, and did not think it would
effect the reduction supposed ; but the directors of
the various companies were quite ready to do any-
thing that should be proved to be desirable.
The motion for the adoption of the report was
passed nem. dis., as was one authorising the pay-
ment of a dividend at the rate of 10 per cent. per
annum.

The retiring directors and auditors having been
re-elected, a vote of thanks to the directors con-
cluded the proceedings.

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