Changes in Stock Shipping.

Patea Mail, 20 April 1882, Page 3

Changes in Stock Shipping.

The Wanganui Graziers Company have lost £358 on the last year’s trading" of their cattle steamers. The loss has been about one pound per day. The Auckland cattle market is no longer fed from Wanganui, the steam trade from the Waitara being found much cheaper for conveying cattle. The Graziers Company have resolved to sell the Wallabi steamer, and, to put the St. Kilda on the. Greymouth and West Coast trade. The directors, in their annual report, say: “ The low rate of freights, together with delays owing to adverse weather for the shipment of stock have reduced the Wallabi’s earnings from £5250 10s lid in 1881, to £3572 12s 9d for 1882. Although her expenses have been cut down to the very lowest, the steamer shows a loss, after deducting her share of charges and management, of £2BB 15s 7d. ‘ ‘ The St. Hilda’s earnings for the year are: £5601 2s 7d ; as against £6645 5s 2d for 1881 ; her disbursements, charges, and management amount to £5673 6s, thereby leaving a loss of £72 3s sd. This together with the Wallabi makes a total loss of £358 6s Od. ■“ Yonr directors cannot but acknowledge the fact that the stock trade from Wanganui to Auckland has practically ceased. That market being supplied from tliis district by shipment from Waitara, whilst the West Coast market will not employ one boat in the trade.

t: As the primary object of the Company was the fostering of the slock trade from Wanganui, and as this cannot bo done without loss, yonr directors arc of opinion that the steamers should bo sold and the company wound up. With this object in view, they have given notice to the crews of the steamers that their services will not be required after the 30th April, and recommend that the steamers be sold by auction before that date.”

Mr Peat, chairman, moved that the steamers be sold, and said (he shareholders most otherwise face a large sum for repairs. He thought that as the working had not paid during several years, the first loss was the best. The Wallabi would cost a large sum to repair, but the St. Kilda might run two years without much repair.

After much discussion, it w. s agreed, by 10 to 8, that the Wallabi be sold, and the St. Kilda be retained.