The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1864-07-21
Portland Gas LIGHT Company.

The annual meeting Of the stockholders o
the Gas Company was held at their rooms
yesterday afternoon, the President, Edward
H. Daveis, ESQ., presiding.
The annual report of the Directors was pre-
sented, accepted and ordered TO be placed or
Ole. A copy of It win be found below.
The report of the Treasurer was accepted
and ordered to be placed on file. From it We
learn that the cash on hand July l, 1868, wa:
I S27, SOS "a. Received during the year for gas
coke, &C., SS2,746 s..
The amount paid out, including two diyi
/ bends of four per cent, was 1885, So; leav
ing balance on hand July /, 1864, of 22
ls2 53. A large portion of this balance, the
Treasurer stated, had been expended since
that time in payment for coal
A ballot was taken for six Directors for the
comiog year. The whole number of votes
thrown was 2l24, all Of which were for thelold
Board, yiz:-Edward II. Daveis, Charles Hol-
den, Lemuel Cobb, Thomas Cummings, Rufus
E. Wood and Ezra Carter, Jr.
Subsequently the Board organized by the
SANSlAIh VI 1-AhAtA - ASNfNa@f ASsAoCht,
and Hon. James I. McCobb, Treasurer.
Report OF the Directors OF the. Portland Gas
Light Company 10 the stockholders, at their
annual meeting, July 10th, 1864:
The Directors have the pleasure to lay be-
fore the stockholders a statement OF the af-
fairs OF the Company, showing an increase in
tue business and the receipts of the past year
that has enabled them TO make the usual diy-
tan1s "a n thgfapifnp ha 4
expenses OF the Company.
1t is well known that the price of coal. as
well as OF all the materials used in the renew
al OF the works, aud the cost OF labor, have
materially advanced within the past two years,
while the price OF our gas has remained the
same. That the stockholders have realized a
reasonable profit from the business under
these circumstances is owing principally to the
large purchases OF coal made in 1862, and to
the construction OF the new benches OF retorts
in that and the following year. With these
advantages, aud with the increase in consump
ton and in receipts from sales OF coke aud
tar, 10 has not BEEN necessary heretofore to
raise the price of gas, although the cost Of
labor has been constantly increasing, and por-
tions OF the coal and other materials used have
been purchased during the past year at great
ly increased prices.
The Directors have been extremely DESTROYS
to avoid making any advance in the price of
gas, and have postponed il as long as il could
be done, in the hope OF favorable change ia
the price Of freights and of foreign exchange /;
but the actual cost of the coal we are now US
ing, and OF that ordered and on the way, to-
gether with the other increased expenses men
toned, preclude any expectation of the Com
pany's being able to furnish gas for the com.
ing year without a considerable advance in
the price.
No additions or changes of any consequence
have been made at the works the past year.
lot of land has been purchased on Beach
street, "A feet front and about 100 feet deep,
for reservoir together with the right to Law
water pipe thence 10 the works; and reser-
voir has been constructed on it, which, it is
expected, will give such additional supply OF
water as will be required in consequence OF
the discontinuance of the canal in front Of the
works. The whole expense is about 5000
The present number of consumers of our
gas is 1887, gain OF 1870 during the year end
ing June 30th. Six additional street lanterns
have been put up, making the whole number
SOB.
The total consumption OF gas for the year Is
N,6el, $50 feet, being about 100000 feet more
than last year.
or street mains, POSI- feet have been laid.
and 10 feet of three-inch iron water pipe.
The whole amount received from sales for
the year is ssl $50 p, being an increase of
Sl3.ll4 81 over the receipts Of the previous
year.
The report Of the Treasurer will show more
particularly the state of the Company's
finances. BY order of the Directors,
EDWARD ii. DAWES, President.