THE NEW ZEALAND SHIPPING COMPANY.

Temuka Leader, Issue 1215, 9 August 1884, Page 1

THE NEW ZEALAND SHIPPING COMPANY.

The New Zealand Shipp sn * , ~ . , Kt i the ordinary eleventh annual report showh . ■ service by direct steam to ita ■• *»» 11 profit of £30,093, after provid. ■ costs of the inauguration of the » ~ ' but consequent on the charter v '<-) or s e Catalonia through default of the i nJ \ there was a loss of £18,471 15s «yj which is met by transferring £20,0\. - from the reserve fund. An arnjle margin still ex'sts, and the case its one contemplated under the articles of the Association. Two new steamers, the Kaikourn arid the Rimutuka, of about 4750 tons, are contracted for, to he com. pleted in September and October nspectively. This will enah.'e the Company to conduct a monthly service without ch-r----tering steamers. TheTongariio, Aorar-gi anil Euapehu have exceeded in speed the £iinrnntee required of the builders. The sailing ships cortinue to be a valuable adjunct to the steamers, and the Company slili charter considerable sailing tonnage. Duritie the p«styear fresh f>f'capital have been mi'de in Lonion,. aggregating 32,738 '; shares. Of the*e? 23,169 are £5 puid up, and 20,000 are* quoted on the London Stock Exchange, The balance, of 9567 ara at present p.iio? ! up to £2 10s per share. The balance of profit aud loss to be de;dt with in the accounts, including £20,000 transferred from the reserve is £50,093 10s 2d, which the Directors recommend be appropriated thus :-.£18,471 15s 2d to provide for special loss on the Catalonia chmter ; £22,956 6-* 2d for a 10 per cent, dividend, and £8665 8s 10d to be rarried forward. The Directors do not propose to fill the vacancy on the Board, c;uieed by the death of Mr Tancrt-d. Mr William Poarce, of John Einer and Co., lias joined the London Bonn! of Advice.