GREY RIVER STEAM TUG COMPANY.

Grey River Argus, Volume XIV, Issue 1716, 3 February 1874, Page 2

GREY RIVER STEAM TUG COMPANY.

The ordinary general Imeeting jjiff the shareholders of the Grey''River'?Bteam ; : Tug Company (Limited) was held at the Company's office, yesterday afternoon, at 3 o'clock. :t Pferent— Messrs JrKilgour(chair)j«W.Kilgour, ,J. Taylor, Henry. Hunt, R. J. T6nks,'Rugg^ Goldsborough, 'Thbmas, A. Masters, _.T. Joyce, W. J. Cqates, D. . Sheedf, ''J. Bblsfrob^, Moss, and a fewsliarehßlders by proxy. The. follpwing report r and balance-sheet were read and adopted :— ! l ' : ' ! l r -f. The directors; in placing before the shareholders their report for 'the past year, regret that owing to the. reduction, of rates of towagfi, consequent upon the opposition, of the Hokitika Tug Company, they are unable to show their usual 1 satisfactory balancesheet. . In' the face of opposition during the last six months, the directors have been,. able to joarry.on.the working of their tug boat without any ihaterialloss to the shareholders, and have remaining in hand the amount cat ried. to reserve fund, viz, L 826.. . , ...;/;;. The gross earnings for 1873 show an amount of L 2702 10s 4d ; also, L26ibanfc interest carried to reserve fund. The working expenses aud repairs amount to L 2415 lls 4d, as against L 2807 133 for 1872, showing a decrease of L 392 Is Bd. : - Duriag the first |six months a dividend of 10 per .cent, was declared/ and the sum of L 732 paid over to the shareholders. ' The directors; r that they have, under the circumstances, acted for the interest of the shareholders in working against the opposition company, and would recommend a continuance, of, such opposition for as long a time as' it may be' necessary'.' ' ' For the Board of Directors, i•• i; ; ; ; f. Joseph Kilgottk,, ; ; ' : .">.;*' ',: ,\, ;";.••. \ : >V)ita::man. PROFIT AND .LOSS. ACCOUNT.,. ; , ...... : ■ Dr^i •• :. ;■, ';...-.■ £ B.d. To p.s. Dispatch— Working.expenses for 1873 '.> 2334 14 5 Repairs for 1873 ... .:. 80 16 11 To Discounts-^- ■ ; ; i "' :t ;,.?"!- Allowances for 1873 „ ... 27 19[ f?0 To Dividend Account— ■ ; ■' '•■' '. 7/ Paid 10 percent; during 1873 732 0 0 To Reserve Fund— .: ; " '.'■■'.']]'.. Amount carried to sama ... 26 0 0 •- 3201 10 4 Dec. 31.— T0 balance down !..£235t7 7 Cr. . .•■■■?■:•:;■...-:■:-. By balance forward .... 237 12 5 „ Towages ... ... ; :.; 2101 10 6 „ Freights ... ... ... r 164,^9,10 „ Passage money .... ..... 436 0 0 „ Bank interest on reserve fund 26 0 0 „ Balance ...' • ; '..: :.i : 235 j 7 '7 : . '.' ■;■ £320L10"4 : BaIANCE-ShBBT MADE UP TO JANUAJtY, IST, .:-.;,„;.., . ;i874. ' I" -••<•■* :'I . CAPITAL AND : LI ABILITE3. ' j ' ' ' ''■ Dr: ... r\ , £ s> <j. To Capital— ; , / •'■>>■■■'■ ■■;! V; . -' ; -• ■ : Amount from shareholders on 732 shares of £10 each ... 7320 0 0 To Debts and Liabilities-r-Bank of .New South Wales,: overdraft ... .... 148 14 10 G. W. Moss ... ... ... 10 9 To Reserve Fund , ...... .\ „....'. 826 0 0 ■':" • -.. .-;..■". ;.; -■ £8295,15 7 : PROPERTY- AND' ASSETS. . . T ' , - ..Cr. ... f ■■■■i^i^-.'i.-Byp.B. Dispatch .„ ... 7000 0 0 " Btock in hand, stores, and T : ,- t , machinery ... ... '\.' 213 14^0 " Cash,' deposit, Bank of New^-, r - t v> South Wales... „..,... 82(J 0 0 „ Debts due to company, towages '.;r?Q-14 0 " Profit and- loss- account, V> balance 4 ... ,235 7 7 '''"'"'''"'■ iEB29Sj 15 7 G. W.MOS3,n : .' : - : ;,-•■ ;; - ; Manager. Examined and found correct— ; .■;;;> 'n "■ ; •'}'■■-'■' :■■ '■ r-r F.Wm. LAHMAN, ■'•■-•• ■'•■. :■■:.-:■■•-'■ ; , ;;•.,,... Auditor, i Greymouth, January Ist, 1874. ;' ■ Messrs, G. ; •Eerottt/ana J., Taylor were re^electeid directors, and Mr F.' 1 Win 1 . Lahmari i : was elected"^auditopifprr "^hi ensuing srear,5 r ear, ■•■ : ; r v ■;;.;» # | ; The Chairman staled that, as the Dispatch'reqiured^a.few, trifling, repairs^ the directors had determine^a send/her tp ; Nelson for the purpose of giving her a I thorough; overhaul.; He expected . she would be absent for some two J or three weeks. Arrangements have been made in the mean while to carry on the work pf the port as effectually as if the Dispatch) were here. ,''>;!: ;^-v; ,* ; j j Votes of thanks to the chairman, directors,. and manager (Mr.G. W., Moss) -'terminated the; meeting./ - ;,,' '"?*'] i