N.Z. SHIPPING COMPANY.

Temuka Leader, Issue 1822, 29 November 1888, Page 2

N.Z. SHIPPING COMPANY.

Chbistchitech, Not. 28. The fifteen ib annual meeting of the New Zenlaod Shipping Co. was held today, Mr A. 0. Wilson, in the cuair. The Directors' report stated that the profit and loas account showed a credit balance of £51,27638 7d including £9019 brought forward from 'ast year. They recommended writing £50,715 off the property, including £30,000 off-, the steamers, and £9666 off the sailing fleet, and carrying £550 forward. Since last general meeting the London manager and the representative of the London auditors had visited the colony and investigated the accounts. Exception had been taken, to four items charged to first cost of the steamers, viz., interest during construction, commission oil purchase of new steamers and on raising no >v capital, refrigerators transferred from chartered steamers to company's Htearaers at cost price, and sundry property transferred, together £34,521. The Directors, therefore, proposed writing off £30,000 this year and £4521 next year, The report was adopted unanimously. Messrs Bowen, Murray-Aynsley and E. Richardson, were re-elected Directors. A. shareholder (Mr Green) gave notice pf motion for reducing the number of Directors in the colony to five.