WELLINGTON.

Southland Times, Volume I, Issue 28, 4 August 1864, Page 3

WELLINGTON.

The Independent of July 21st reports a special meeting of the shareholders of the New Zealand Steam Navigation Company (limited), at tho Wellington Athena-urn, on Tuesday afternoon, the 19th inst., for the purpose of taking into consideration the question of insurance, and other general business. The meeting was numerously attended. George Hunter, Esq., occupied the chair. The chairman commenced proceedings by reading the advertisement calling the meeting, and stated that the object for which ifc had been convened was, first to receive the votes of shareholders on the resolutions proposed at the lasfc general meefcbig held on tho 18th May, and second the consideration of general business. Tlie following resolutions were adopted : — " 1. That the Company take on themselves the insurance risk for one-half of the estimated valuo of their respective vessels. "2. That the directors be authorised to discontinue insuring the company's vessels as the current pohcies lapse, and that the premium n, wliich afc the common rates would be puyable, be carried to the credit of an Insurance Account. " 3. That the directors of fche company be authorised henceforth to issue or not insure at thoir discretion such of the vessels as they think proper, carrying to the credit of an insurance fund fche current rate of premium on so much of thoir capital as they may not insure. "4. That the company continue to insure their vessels for a period of twelvo months from 31st August, 1864."