WAIKATO SHIPPING COMPANY

Pukekohe & Waiuku Times, Volume 9, Issue 522, 13 April 1920, Page 2

WAIKATO SHIPPING COMPANY

ANNUAL MEETING. INCREASED TRADE. MORE CAPITAL REQUIRED The third annual meeting of tne Waikato Shipping c °"\l ,:ul - v .] place at Hamilton on t inlay, Ap u

The manager reported that in spite of the disorganisation due to the epidemic that the year had Utn a successful one. The trade nad increased and more plant would m ie quired to cope with it. A steamy capable of carrying 4o tons ol ■ oo and 400 passengers had lh purchased fw.m Messrs Hatnck and C () , „f Wanganui. and would sluit lv be placed in commission on lie river. The coal mine had been ,n to a greater extent, and in tne near future screening madmen would be erected. Further bm ii 4 was being undertaken on the I • ne'tv, and there were signs t.ia there was a much greater area ol coal than was •« «« hV'iSev The plant had been kept m o d< and a new slip erected a Mecct . rebate of five per cent, was d.ec.ai, A or all shareholders fieignt.. ?. • dividend was foreshadowed interim diMtenu , , -it the end of April. Ihe tiuue cu..i inc the first four months ol tm> •ear showed that the present yea: would be still better. Mr E r. Frost, who retired l.y i; 1 ; 1 ' 1 " ™i Ml V " I'ricsUcy. cm■l':,: were elected to the vacant t rmsed bv the .retirement ol Messrs W. Wilson and R. Clephane, who had left the distnct. At t he close of the annual n.eetino- an extra ordinary general meet in" was held to consider the pioposals of the directors to mcieast the capital to Uoo.ooo. The proposal was carried, and when the capital is taken up tlu. t rectors will enter upon a p ogiCs sive scheme that they have had m mind for some time past. 1 hey piopose to build special suitaWe ste.U icrs for the river, erect and -qu p wharves and landing places \\ith sheds, procure a d.'edge and salvage plant, open up further coat aie.u. and develop an overseas and connexion with their own vessel, There is a splendid opening fo< a direct trade with Australia. It is proposed also that the lite hold of an office site be procured in Hamilton, and also to lay a huge slipwav down capable of taking -1 the largest boat «t barge.

Workshops equipped with lathes and other engineering appliances will be built, and everything that will secure the speedy ,'epair an. maintain the efficient service need-d will be procured.

The shareholders present oxpiwsed a pleasant surprise at the amount ol' thought and energy the manager and board of directors had given to all matters connected with the company, and a vote of appreciation was passed unanimously.