Accrington on Rails - The Tramways: A Complete History - Robert Kenyon

township. However, Church and Oswaldtwistle would be more successful in their negotiations with Accrington on this matter.) On January 30 th , 1904 the Accrington Corporation Steam Tramway Company held its AGM when the state of the Company at December 31 st , 1903 was revealed to its shareholders as follows – Incorporated by the ACCRINGTON CORPORATION STEAM TRAMWAYS (Haslingden & Rawtenstall Extensions) Act 1887, & under the Company Clauses Act. DIRECTORS. W. M. Pering Piage Esq., S. Yates Esq., James Kenyon Esq., & Robert Waite Esq. BANKERS. The Manchester & Liverpool District Banking Company, Eagle Street, Accrington. AUDITORS. James H. Heap Esq., St James’ Street, Accrington and J. W. Cooper Esq., Secretary Co-operative Society, Clayton-le-Moors. MANAGER & SECRETARY. William Jeffs, Tramway Depot Offices, Ellison Street, Accrington. The REPORT of the DIRECTORS. 1. The Directors beg to submit the report and Balance Sheet for the year ending December 31 st , 1893. 2. Notwithstanding the adverse effect of the local and other strikes and the general depression of trade, the gross receipts of last year exceeded those of any previous year since the formation of this Company, whilst the outlay is less than the average yearly expenditure since the full opening of the lines in 1888. The Mileage Receipts are 1 shilling and 0 · 96d as against 1 shilling 0 · 85d last year. 3. Engine Nos. 1 , 5 , 11 & 13 have substantially be repaired and refitted, and engine Nos. 7 , 9 , and 10 have been repainted. Several of the cars have also seen a repaint and substantially repaired and improved. Now the rolling stock is in an efficient and satisfactory condition. A considerable increase will be noted in the price of fuel, the Directors having decided on the use of a superior coke, the higher price being compensated to a great extent by its greater heating power and an absence of smoke. 4. The Revenue Account shows a gross profit of £3,416 - 14s - 6d, and after paying an interim dividend of 6% per annum on Preference Shares, and 3% on Ordinary Shares in August last, Debenture Interest, writing off a Purchase Account of £317 - 3s - 6d, Clayton Suspense Account of £219 - 3s - 4d, and Expense on Issue of Capital of £60 - 18s - 0d, there is an available amount of £1,509 - 18s - 0d with which your Directors propose to pay a dividend after the rate of 6% per annum to the Preference Shareholders, which will absorb £900, to place in the Debenture & Reserve Fund, £500 (making the amount on hand £4,200), and to carry the balance of £109 - 18s - 0d forward into next year. 5. The Board of Trade Licence to use steam on the lines expired last April, and in June an inspection was made of the lines and rolling stock by Major-General Hutchinson of the Board of Trade. Upon inspection the Inspector made an Order that in order to comply with the Board’s requirements, it would be necessary to fit ‘Child Protectors’ to the engines along with emergency brakes, and screw couplings to both the engines and cars. In all other respects he expressed himself satisfied with the rolling stock, and granted a Provisional Licence to run up until December 1893.

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