A meeting of the shareholders of the 1 Gas Company was held yesterday at the , Criterion Hotel j 15 shareholders were present, Mr J. Close in the chair. The following report and balance-sheet were read by the secretary, Mr J. B. Fielder : — The Directors, in submitting the Fifth Annual Accounts of the Company to Share holders, have much pleasure in testifying to the increase in its business during the past. year.. As will be observed from the Accounts, -a profit of £1,285 15s 2d has resulted from the ■ operations of the Company during the past year. Debts owing from the.qpmmehcement ' of business to the end of last bear amounting to £106 8s 5d have been struck off as bad, thereby reducing the profit to £1,179 6s 9d, which amount, with the balance from the last account, shows a total to credit of Profit and Los? Account of £1,323 10s lOd. A large increase in the revenue has been derived from the consumption of gas. This : ; has resulted from the extension of the mains >_-! as stated as last report. Forty '10116 new. services have been laid :6n. during the year. • ,. , ' ■\> '• Since the close of the last fiaancial yeJ&r ; ' the mains have been extended along Brewster Street, Shakespeare Terrace (off Cameroii' Road), and from Emerson Street to the\ Railway St/ation, of the total length of \ twenty-four chains. Should sufficient con- -^Jk snmers be obtained, they will be* extended-; 'j_> along Shakespeare Terrace [ and Roslyn Road. •

The new Tank, and holder of the capacity of 19,000 feet has been erected at a cost of £1,360, and is now in use. Owing to tho-large overdraft at the Bank your Directors do not feel themselves 1 justified in recommending the payment of a dividend. " 'J If such a course \ was ' deemed advisable, it t would be necessary to make a further call, which at present they do not think would meet with the approval of a majority of the Shareholders. The income of the present year will reduce the overdraft ; and, as no extraordinary expenditure will be required;, oh the works, it is probable that a Dividend will be declared at the next Annual - : Meeting. ' , -. 