, L:OMPANY MEETING
WANDSWORTH AND DISTRICT GAS COMPANY
INCREASING SALES OF GAS AND APPARATUS
THE annual general meeting of the Wandsworth and District Gas Co. was held February 15th at the chief office, Fairfield Street, Wandsworth, London, S.W.
Mr. Frank H. Jones, chairman and managing director, who presided, said that the balance of profit of £280,377 compared with £276,527 for the combined companies in respect of 1936. The financial position of the company was perfectly sound. The sale of the various residuals was satisfactory and an improvement over the previous year. The improvement had been obtained largely by economies in working, and therefore was not wholly due to increased selling prices.
Expenditure on coal was again up by approximately is. per ton. The question of coal was one which gave the directors considerable anxiety. Their company, in common with others, was not permitted to declare a dividend other than one controlled by the price of gas, yet its main source of manufacture—coal—was almost free from any such restrictions. In the year under review the company had been able to recoup the increased price of coal by the improved sales of coke but the directors felt that the rising price of coal from 1938 onwards would far outstrip any likely increase in the price of coke, and consequently they must look forward to a considerable increase in manufacturing costs. The directors had been compelled to raise the price of gas from January ist, 1938, an increase which had been caused by increased cost of materials generally and wages.
The directors felt that to be able to report an increased sale of gas to consumers of 1.6 per cent., or over 6o,000,000 cubic ft., was gratifying ; 6,653 new consumers had been added, the total number now being well over 200,000. A new record had been obtained in the sale of new apparatus-33,4o4 major appliances having been sold to consumers. In that figure was included 9,148 cookers, 18,816 heaters and hot-water appliances, 1,704 refrigerators, 2,224 coke fires, and 1,512 sundry appliances. Central heating by means of gas was being developed along economical and attractive lines, while the increase in gas sales for industrial purposes was extremely pleasing.
The report and accounts were unanimously adopted.
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