DEVONPORT FERRY COMPANY.

Auckland Star, Volume XXXVIII, Issue 151, 26 June 1907, Page 2

DEVONPORT FERRY COMPANY.

_B___3EHOI_DERS* A_S_SU__L *M K. rri_T_. The annual meeting of shareholders in the Devonport Steam Ferry Company was held art 2 o'clock this afternoon in the Borough Council Chambers. Mr. E. W. Alison, __H_R.,- presided. TSie re|ort j and balance-sheet were submitted to | shareholders, as published, iff last evening's issue. In moving the adoption of the report and balance-sheet, the chairman- (Mr. E. "Vv. Alison) said the operations of th. company during the past year had been -_3.t__faetory.Afer making allowance for depreciation on steamers, plant, and in-, suranee account, a net profit reimußed of £(4152 .'4/, -which, with the /balance, brought fprward from last year, and after paying aai interim dividend on the 31st of October last, left qn avaiiahle ba__.ce of £7886 1874. The chairman refenred'to the loss oi the tug-boat Awarua, near Kauri Mountain, adding thai no blame was attachable to the master. Owing to prompt action, however; a -considerable quantity of fittings and gear were saved, also boats, -which considerably iranimised the loss. - After making -full provision for the loss of the steamer, the company insurance fund stood at £2900. The chairman also referred to the purchase of the Young Bungaaree for general towing work.

Referring to the sale of the Te __roha *~** *^ c chairman said an. express corodition was that the vessel was to be taken with aU faults, as she lay in the company's yards.. The vessel was subsequently lost, but the company had no responsibility in the matter, Mr Alisonnext referred to the loss sustained by the company" owing to the Harbour' Board not erecting floating stages. The Condor, which was built five years ago to suit such stages, had now been altered for passenger traffic at considerable cost to the company. He also regretted to state that the company still worked under great disabilities owing to lack of wharfage accommodation, but a new ferry tee was now being built. The Board had also agreed to improve the wharves, at Northcote and Birkenhead. Last year their company paid the Boajrri £0.300 for water rent and other ehaiges. That amount would now be eonKiderably. increased owing to-the Board taking over the right to supply, water to the boats at Devonport. Owing' to ■the unreasonable and excessive price to be charged for the water,, he most sincerely regretted that the com-pany-would be compelled to increase the price of the annual family ticket. Mr. Alison further referred to the recent inspection by Mr. Duncan of the hulls and machinery of their boats. He said the examination and tests were often of a most searching description, and he was glad to inform them that the Chief Inspector reported the hulls and ___te_ri_tery of all the steamers were not only but in an excellent coni dition, as_d well, maintained. ! The report arid balance-sheet were adopted, Mr. E. Coleman was re-elected director, and Mr. W. H. Chnrton auditor. Votes of thanks were accorded the chairman, directors, manager and staff, which were suitably acknowledged by Mr Alison. -