N.Z. SHIPPING COMPANY.

Taranaki Daily News, Volume XXXXII, Issue 222, 14 November 1900, Page 2

N.Z. SHIPPING COMPANY.

ANNUAL MEETING. [PBB PBKSS ASSOCIATION.] Ohristchdiioh, Novembor 13. Tho annual meeting of the N.Z. Shipping Coy. was held to-day. Tht report of the London Board recommended a dividend of £4 per cent., carrying forward .£8303 lis 11a. The Chairman of the local Board of directors, Mr. H. P. Murray Aynsley, in moving the adoption of the report stated that the now steamer, ltimutaka. would be ready for the Company to 'oad and send off from London on January 3rd, and the new steamer, Rangitikei, in the following month. These were both twin screw steamers, each of 9160 tons register, andcapabl of carrying abiut 100,000 carcases and a fair number of Ist, 2nd and, 3rd class passengers. Another twin screw steamer was building, which he to 800 here before tho end of the coming year. Slk, waß to be of the same tonna?» and class as these. The ItualiiriQ Imd boon sold at a satisfactory price, leaving sixteen steamers. The total gross tons register was 87,117, vasued at £969,81015s sd. The freight earnings from Londcfa had improved lately, and the earnings of tho Vancouver steamers during the past yoar had been fairly satisfactory. Ni> prospect had been held out by the Government of an adequate subsidy for a continuance of the Vancouver mail service, but thore were indications of public opinion in Canada and Australia in favour 6f subsidising the service, and any proposal to join these great colonies in this enterprise would deserve favourable consideration on the part of this colony. The Company had advertised several steamers to load part of their cargoes for South African ports if sufficient inducement offered. There was, however, no frozen meat and very little general cargo obtainable, and steamers were despatched direot to Lindon. The difficulties, in the way of a regular despatch of steamers for South Africa were, considerable, and it was nesessary to keep freights as low as passible to enable shippsrs to successfully compete with shipments from Australia. There is no b\ck loading to this colony from South Africa, and steamers must take part oargoes for London. The length of the voyage to London is increased by ion to fourteen dajs, and shippers for that poi t doinur to thoir cargo going via. South Africa. The rate of insurance is higher by that route. The directors reoogoisa tho imnortanco of opening up new markets, &od they are prepared to assist in any reasonable manner fe the development of trade with South Africa. The Chairman concluded with a reference to the provision ef tho Waimate for conveyance of a portion of the Pfth Contingent toSauth Africa, aud complimented all concerned on tho expeditious and satisfactory despatch of the vessel. Thai report was adopted. Mr. Gould said nearly 25,000 registered tons of older! vefsels had boon rephcud oy 40,000 tons of modern vessels, which h>vi boon Ibuilt when the building trade was at it lowsst obb, aud if built aow would cost some £'25,000 more. Freighta rroin the colouy had boen very low dur-1 in« the past year as compared with, those ruhug elsswhere, and yet the Company hai been more than able to] pay its way. TLo 'cluvu new ships now ivoulu 6n&t>lo jiw Company to; P'.vveae »&y block such oe had arison' sain, year. Memo. .3, Anderson, J. 11. r , G, G. wore re-elected' airoctors, ana ilct siß. h. Oarrick and ft, iin'ioy wen; 10-uioatcti auditors. 1 Sir. Watt.ru win Iku , w Devon j 1 !|„c .cation i K?. W >' >'l u.oBMiU Uotli . IS II; a oil ;o advise tilieuts. I ill I .'! all!..ill ;.!; xiivrrotsi t m coil- i jswrtii.l- w:Ui drciKiwr. uml inspect, at hi*! [w.'li-M, i-'« ii'H'-iUonii, pr.i.spiji'tases of iiuitltxi, UEU lUW(JS oi uiij vl'\Uu.i. «v» *-i\r —Vs. ]