The Globe. SATURDAY, AUGUST 3, 1878.

Globe, Volume XX, Issue 1394, 3 August 1878, Page 2

The Globe. SATURDAY, AUGUST 3, 1878.

The result of the year's operations of the Now Zealand Shipping Company, as shown by the report presented at the annual meeting hold yesterday, affords on tho part of tho shareholders cause for congratulation. Not only is this tho case as thoy are concerned, hut also from the fact that tho record of the year's trade of the company is to a groat extent that of the prosperity of the province. It shows in a most marked manner the large increaso that has takon place in our imports and exports during the year, and thus affords a means of guaging pretty accurately what our progress has been in material prosperity. Therefore it is that tho meeting of yesterday possesses more significance than it would do were it that of an ordinary company. Our prosperity or otherwise is so intimately connected with, and has such an important bearing upon, the operations of tho New Zealand Shipping Company, that the progress made by it during the year becomes not only an individual matter, so far as the shareholders are concerned, but also materially effects the general public. The career of the company since its foundation has been marked with success. It is true that as in tho case of all similar undertakings difficulties have had to be surmounted, but the company may now be fairly congratulated on having established itself. The company has now a very largo fleet, in point of equipment and accommodation second to none sailing out of England, and as was remarked at tho meeting yosterday, the vessels of the company have so far enjoyed almost a complete immunity from accidents of any kind. The main points in the -chairman's remarks to which wo desire to call attention are the very marked increase in tho number of vessels leaving London for tho colony under the flag of the company this year as compared with last, and vice versa —the increase also of the export cargoes carried, and the question of tho employment of colonial youths as apprentices on board the vessels of the company. As to the first of these, the figures quoted by the chairman speak for themselves. We find that during the year 63 vessels, representing an aggregate tonnage of 5566, left London London for the colony, as against 53 vessels of an aggregate tonnage of 50,031 during last year. When we turn to the results of the number of ships despatched from here last year and the exports from the colony as compared with those of the precoding year, th« extent of the operations of tho company is brought before us still more prominently. During tho year just closed 37 ships have been despatched, aggregating 33,868 tons, as against 31 ships, aggrogating 26,911 tons last year, whilst tho ships of the company have carried 92,652 bales of wool, as compared with 82,690 bales last year, and 10,700 tons of wheat, as against 5500 tons of the previous season. It will thus bo seen that the company has secured a very largo increase to their trade from here as well as from England, a result which cannot be regarded otherwise than as most satisfactory by the shareholders. Though tho statistics quoted abovo afford ample proof of tho growing prosperity of tho company, tho main point—and one which largely affects the general body of colonists —is the opening afforded to the youth of Now Zealand to enter tho profession of tho mercantile marine. This matter has boon kept steadily in view by tho promoters of tho company ever since its formation, and out of the forty-one apprentices now employed, twenty-three are colonially-born youths. The ultimate object sought by the company is to have their ships officered by Now Zealanders, affording tho lads every incentive to rise in their profession. It is satisfactory to learn that it is intended to increase tho number of colonial apprentices during the forthcoming season. Tho action of the company in this matter will enable tho youth of tho colony to join a profession which is, to many boys, a very popular one, and from which, for obvious reasons, thoy have hitherto been debarred.