NEW ZEALAND SHIPPING COMPANY.
The tenth annual report of the New Zealand Shipping Company congratulates the shareholders on the satisfactory result of last year, but regrets the loss of the Waitara with 26 lives. The City of Perth has been added to tlie fleet, and. a contract entered into with. Messrs Elder and Co., of Glasgow, for three steamers, 4000 tons each, with sea-going speed of 12 knots, to be of steel; the first is to be launched this month, and will leave England in October. The report then refers to the successful passages of the direct line of steamers during the year, and the establishment of an important refrigeration freight. The insurance account has met the loss of the Waitara, and stands at £SOBI. The balance at the credit of the profit and loss account, after covering losses and allowing for liabilities to close of financial year, is £36,523, recommended to be appropriated as follows : £7500 to reserve fund, which will then be £120,900 ; to a dividend of ten per cent, of which moiety was paid in January, £12,627 ; carried forward, £16,395. Mr H. J. Tancred has been added to the Board. The retiring directors are Messrs Coster, Murray-Aynsley, and Tancred ; they all offer themselves for re-election. The dividend will be payable on August 15.
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Bibliographic details
Patea Mail, Volume IX, Issue 1068, 3 August 1883, Page 2
Word Count
216NEW ZEALAND SHIPPING COMPANY. Patea Mail, Volume IX, Issue 1068, 3 August 1883, Page 2
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