NEW ZEALAND SHIPPING COMPANY.

Oamaru Mail, Volume IV, Issue 1035, 14 August 1879, Page 2

NEW ZEALAND SHIPPING COMPANY.

Cht.istchohcb:, August 13.

At the annual meeting of the Shipping Company to-day, the Chairman, Mr. J. L. Coster, said in the course of his speech—"There is a matter which I feel constrained to allude to at this meeting of the shareholders, because it affacts the good management of the Company. I refer to a letter which I daresay many of the shareholders have seen published in the papers, and addressed to the Government by Sir Julius Yogel, Agent-General of New Zealand, and dated London, March 27. This letter contains very grave charges against the Company, plainly stating that it has not been able to fulfil its engagements with the Government by providing tonnage place for cargo as wanted, and generally freely accusing the Company of dereliction of duty in respect of the performances of its contract. I will not trouble you by reading those letters. I wish to state publicly before the shareholders that the slatemencs made by Sir Julius Yogel in that letter are simply without foundation. (Applause.) We have the very fullest correspondence on the matter from our London manager. We have copies of letters containing confirmative evidence from brokers and Oohers in London, and I say distinctly to the shareholders that the charges made in the letter of the Agent-General are wi.h-1 out foundation. I am. sorry that the letters which have passed between the Company and the Government have not also been published. I have no doubt they would, ere this, but for the constitutional crisis which has arisen in Wellington. Possibly they may be published ere long" Amongst other matters, the Chairman said there were now 50 apprentices on board the Company's ships, some of whom were acting as third mates, while one had already risen to the rank of chief officer. The report and balance-sheet already telegraphed were adopted. The retiring Directors, Messrs. Reeves and Turner, were re-elected, and in the place f Mr! R. Evans resigned, the Hon. E.

Richardson was elected. The auditors were also re-elected, and votes of thanks were passed to the Directors and the working officers.