The Portland daily press., 1882-05-18
PORTLAND GAS LIGHT COMPANY.
Annual Reports and Election OF Officers.

The annual meeting Of the stockh olders OF
the Portland Gas Light Co. was held at the
office Of the Treasurer yesterday afternoon at 3
o'clock
The President, E. H. Daveis reported as fol-
The consumption of gas for the year ending
on the 30th ult was 46, 121 600 feet, An increase
of 3,141 900 over the preceedinsIy 1854 tens
of coal were used, and 32a tons OF oil, yielding
$4,000, 600 feet of gas, about feet per pound,
power. The loss from condensation and leak
age was about u per cent. There were sold
Sc 600 bushels OF coke, An increase OF l4,pOU
bush 1, yer the preceding year. The number
of 3 !. lers on the LIST inst. was $3.50, an m
O. 40 81. Thenumber Of street lanterns IS
AZ. 4 increase OF two. 4
lie renewal fund of the company has been
accommodating for many years at compound IN IN
terest until it amounts TO about 9lo9 wv, wv
ing to our fortunate exemption from the ois,
asters incident to our business and TO the skill
I of our engineer, Mr.. Yorke, the cost OF re-
newals of all kinds since 1868 has beenmuch less
than it had been thought prudent 10 provide
for by semi-annual appropriations. This was
especially the case in regard TO tho proposed
construction of a new gas-holder IN place OF
the one built in 1853, which preke down Win.
in ten years after, and was condsmned BY ex-
perts as not capable of repair. By well judged
appliances, Mr.. Yorke has kept the upper sec
tion in use until the present time, although we
have been expecting from year to year to build
a new one, and it now seems probable that this
will answer our purposes NUMBER OF years
longer.
The treasurer has taken good care OF the
fund, keeping it drawing interest and invest
ing from time to time in securities that nave
steadily appreciated, especially for the past
eight or ten wears, and has not lost dollar.
rLa. - lad tn making q Ql-
vision of SO much Of this fund among the
stockholders is tho urgent request OF Inc
Mayor, who has addressed to US the following
communication:
The city has unusual burdens to carry this year,
on account Of the refusal of the Grand Trunk Rail-
way Co. to to pay the interest the bonds issued IN
extension of the city loan to said railroad II seems
to very important that the rate OF ia1a sssa
unless appropriations are cut down OF the IN
come in some way increased. 1t would aid the city
creased by an extra dividend on the stock it holds
in YOUR company. understand there Is surplus
fund from which such dividend could be made,
and trust that the matter will receive your favora-
Bile consideration.
After careful consideration the directors
have concluded to comply with the request OF
tho Mayor and special dividend OF $2o
share has accordingly been declared, payable
on and after July ID, next, at the company,s
office, to stockholders of record of May cur
rent.
The Treasurer, James T. McCobb, Esq, re-
ported the receipts from oil sources $l26,4O7.-
IS, and the expenditures, including two divi-
dends, 1924 Ssh.
The old officers were reelected as follows:
President Edward 81. Daveis.
Treasurer--James 7. McCobb.
Directors e. H. Daveis, Thomas Cum
minps. Ezra Carter, Chas. B. Merrill, VIM.
w Thomas Jr, and Samuel Rolfe.