ENGLISH NEWS.

New Zealand Spectator and Cook's Strait Guardian, Volume IV, Issue 229, 9 October 1847, Page 4

ENGLISH NEWS.

Peninsular and Oriental Steam Navigation Company. — At the meeting of the shareholders of this company held to-day, a dividend of 4 per cent, for the half year ending the 31st of March last, free of incometax, was declared. The report presented by the ydirectors was not a lengthy document, inasmuch as the chief subjects for consideration are invariably dealt with in their " annual " statement. They, however, give an assurance of the profitable working of the establishment, and that, should the business of the company continue as at present to the close of the year, they will be prepared at the next (the " annual ") meeting to give a gratifying account of the result of the trade and the condition of their operations. In reference to the service of the India and China line, it is observed that since the last meeting of the shareholders, the Haddington, 1647 tons and 500-horse power ; the Pekin, 1182 tons and 500-horse power ; the Pottinger, 1401 tons and 500-horse power, have been despatched to those stations ; while it appears also to be the intention of the directors to follow up these arrangements by starting two other vessels for the same destination, sp soon as their construction shall have been completed. In addition to these, four more vessels, varying from 1000 to 1220 tons, now in progress of building, will be brought into work and increase the fleet of the company. These last mentioned ships will be all ready for sea before the close of the year, and one, in fact, is promised for next month. The Royal Tar has been sold. The wreck of the Tiber in February last, off Oporto Bar, would seem to have entailed no serious loss, as she was covered to the extent of £20,000, and the ortginina? cost was not more than £28,600. The directors continue the plan sanctioned by the shareholders of insuring a certain proportion of the company's floating property, and the amount which has been from time to time reserved out of trading profits to create an insurance funJ now leaves a balance to the credit of that account of £118,000. The directors announce that they have placed themselves in communication with the Treasury authorities on the subject of intercourse with Australia, and have intimated their willingness to tender for the service whenever Government may determine upon its establishment. It is added that this communication has met with approval, and that the Lords of the Treasury have given their official consent to the increase of the company's capita, to the extent of £500,000, which aubje.c t

will le introduced to the notice of the shareholders in special meeting when the proper 1 period arrives. The recent reduction of the fares between England and India, and the constitution of a branch of the London establishment for the receptions of parcels for India direct, without intermediate agency are the only other points adverted to. — Times, May 29.