Rushden Electric Supply Co. - The Fourth Annual Report – Dividend at Three Per Cent

The 4th annual report of the directors of the Rushden and District Electric Supply Co. Ltd., is as follows:-

The hopes expressed in the last report ahev been fully realised. The number of consumers has increased from 79 to 123. Lamp and motors (reckoned as lamps) have increased by 6,380, making a total of 11,941, viz., lighting 2,807, power 8,790, heating 344, and the units sold have been 249,788, nearly 4½ times more than in 1914. The horse power of motors has increased from 101½ to 292½, of which 290½ is let out on hire. Distributing mains have been laid to the extent of 1,208 yards, making a total of 4 miles 1,487 yards. The revenue from the sale of current has increased from £463 to £1,699. In view of the rapid development of the undertaking, orders have already been given for extension to the generating plant, which will practically double the available capacity of the works, and which it is hoped soon to get into commission. After setting aside £300 for depreciation of plant, etc., the directors feel justified in recommending a dividend on the share capital at the rate of three per cent. This would amount to £480 4s. 9d., leaving £89 15s, to be carried forward to 1916. Mr John Clark retires from the Board in rotation, and offers himself for re-election, The auditor, Mr F Roberts, retires, and will be proposed for re-election.

Rushden Electric Supply Co.
Annual Report of the Directors - Satisfactory Accounts

The eleventh annual report of the Rushden and District Electric Supply Co. Ltd. is as follows:

The continuance of the trade depression is reflected in a slightly smaller output of electricity, but the directors are able to present very satisfactory accounts for the year. Lighting and heating connections have increased by the equivalent of 1,525 32-watt lamps, making a total of 11,008. Motors are now connected to the amount of 770 horse-power, of which 226½ are let out on hire. The maximum load on the plant was 396 kilowatts, and the number of units sold was 569,601. Distributing mains have been laid to the extent of 764 yards, making a total of 6 miles 1,363 yards. The sum of £1,993 has been added to the depreciation fund, including £73 which has been allocated to motors. The directors propose a final dividend of 4½ per cent., making, with the interim dividend of 3½ per cent, already paid, 8 per cent, for the year, compared with 7½ per cent, for the previous year. This will amount to £1,125, and there will remain £1,190 12s. 10d. to be carried forward. The directors regret to have to record the death of Mr. A. E. Marlow, which took place on July llth, 1922. The vacancy thus occurring on the Board was filled by the election of Mr. G. H. Jackson, who, in accordance with the articles of association, now retires, and offers him-self for re-election. Mr. P. H. Thornton also retires from the Board in rotation, and will be proposed for re-election. The auditors, Messrs. F. Roberts & Co., offer themselves for re-election.

Rushden Electric Supply Company
Irthlingboro’, Sharnbrook and Harrold Districts – to be Supplied
The annual meeting of the Rushden and District Electric Supply Co. Ltd., was held last Friday at Northampton. Ald. F H Thornton, J.P. (chairman of the directors), presided, supported by Mr John Clark (Rushden), Mr G H Jackson (directors), and Mr St J Browne (secretary).

The report of the directors and the balance sheet have already been published in The Rushden Echo.

The Chairman, proposing the adoption of the report and balance-sheet, said that the past year had been one of “marking time” while they were waiting for the confirmation by the Minister of transport of the order for the Northampton Company to supply their Company with current in bulk. This confirmation had now been obtained, and the Northampton Company were taking steps to commence the work. The Rushden Company were inviting tenders for the necessary transforming plant in connection with the bulk supply, which it was hoped they might be able to obtain before the close of the year. Considerable developments were anticipated when this was obtainable. Irthlingborough would receive their first and immediate attention but, in addition to present powers, they were making application to the Electricity Commissioners for an extension of their area of supply. This area would include Raunds and a portion of the rural district of Bedford, covering, amongst other places, Sharnbrook and Harrold. Their expenditure during the year on the capital account had been £647, chiefly spent on mains and meters. They were setting aside an ample sum for depreciation, and as they completed the extinction of their preliminary expenses last year, they felt justified in raising the dividend from 7½ per cent to 8 per cent.

The report was adopted.

Mr Kennard proposed the re-election of Mr Thornton and Mr Jackson as directors. This was carried unanimously. Messrs F Roberts & Co were reappointed auditors.

Mr Houghton proposed that a final dividend of 4½ per cent be paid, making, with the interim dividend of 3½ per cent already paid, 8 per cent for the year.

This was carried, and it was decided that £100 as directors’ remuneration be divided among the directors as they thought fit.