The GLIO Site

PETERSFIELD.
Agent—MISS DUPLOCK.

     GAS COMPANY.—The annual general meeting of this company was held a few days since, at the Town-hall, at which the Right Hon. Sir W. G. H. Jolliffe, Bart., M.P., presided. The report of the directors announced that the business of the company was steadily increasing, and that the balance on the profit and loss account for the past year warranted them in recommending the declaration of a dividend of 5 per cent., which was accordingly done. The new works, which had been estimated by the engineer, Mr. Child, at 400l., had exceeded that amount by about 200l. By the deed of settlement the capital of the company is limited to 1,000l. At an extraordinary general meeting, held in November, 1858, the directors were authorised to capitalise the mortgage debenture of 400l., but it was subsequently found that the deed of settlement did not allow of their doing so, and there was, therefore, no means of raising money to meet the increasing business of the company. Under these circumstances, the directors had obtained the opinion of counsel as to the proper course to be taken, who had suggested certain alterations in the deed of settlement to meet the difficulties, and also that some of the clauses should be amended, so as to facilitate the business of the company. The two directors who retired by rotation, but were re-eligible, were J. Bonham Carter, Esq., M.P., and Mr. Wm. Chase, both of whom were re-elected. Mr. Dusautoy was also re-elected auditor for the year ensuing, and thanks were voted to the directors for their services during the past year.—The meeting then resolved itself into an ‟extra-ordinary general meeting,” at which the right hon. baronet still presided, when it was moved by the Rev. J. M. Sumner and seconded by Mr. George Harffey, ‟That the resolutions Nos. 1 to 20 inclusive now read (copies of which had been previously sent to each share-holder) be received and adopted.” These resolutions re-pealed certain clauses in the deed of settlement, and provided that the share capital of the company be increased by the issue of new shares to the amount of 1,400l., making the whole capital of the company 3,000l. They also authorised the directors to pay the 200l., by which the cost of the new works had exceeded the estimate out of the money raised, by the issue of such new shares, and also to pay off the mortgage debenture of 400l. Thanks having been voted to the chairman, the meeting separated.