CHRISTCHURCH.

Thames Star, Volume XI, Issue 3616, 29 July 1880, Page 2

CHRISTCHURCH.

This day.

The following is the report of the New Zealand Shipping Company to be presented at the annual meeting on August 12:—The company's ships have been maintained ia their accustomed high state of efficiency, and performed their respective services without casualty. The contract with the Government for the conveyance of immigrants and cargo to the colony has been further extended, and the profit and loss account shows a balance to credit of £37,207 2s od. Of thia sum, the directors have appropriated to the reserve fund, which will then stand at £73,000, the sum of £20,C:j, and your directors propose to pay a dividend of ten per cent, for the year, of which a moiety was paid in January last, £12,6C3; to make provision for the late general manager's deficiency in account, £2,438 8s 2d, to carry forward to profit and loss to new account £2,357 14s 3d, total £37,207 2s od. The dividend will be payable at the Head Offices, and all Colonial Branches on and after the 13 th of August next. One paragraph of the retjort, referring to the late manager's (h. Selwyn Smith) proceedings is omitted, as the publication, according to a lawyer's advice, is libellous. Tbe nonallusion in the report to the " Manager's deficiency account " is thus explained.