THE AUCKLAND STEAM PACKET COMPANY. (From the New Zealand Herald.)

Tuapeka Times, Volume VII, Issue 367, 24 June 1874, Page 6

THE AUCKLAND STEAM PACKET COMPANY. (From the New Zealand Herald.)

Auckland can probably boast of -possessing a larger number of paying comoanies of various descriptions,, besides gold-mining' companies, than any other Province in New Zealanct The 1 receipts and profits of the Auckland; Steam Packet Company bear ample testimony to the efficient and- careful management of th«.directors, and of the manager, Mr William Lodder. Not only have the company been able to declare a dividend of 10 per cent, per annum, but they are placed in the very favorable position of- being able to place to tbe reserve fund the sum of L 5.000. Nor has this been accomplished by running the company's boats -recklessly and without repairs. On the contrary, very extensive repairs and alterations have been effected, the expenses accounted for, ■ and the boats now hold certificates of' seaworthiness for the next six months. The' report says : — "The net profits for the six months, after writing off the sum. of L 376 osr6d, for depreciation, bad debts, and losses by aeeidents, is L 2,397 lls lOd, which, added to L 5,854 6s 6d, the balance of profit and loss account' jit 31st October, 1873, makes a total of L 8.261 18s 4d at credit. Of this amount, your directors ; nave placed a. sum p£ JL>S,OOO to a reserve funcl, And pay as & dividend L 686 I 9 for ihe past half -year —being at the rate of 10 per cent, per 1 annum— leaving a balance to be urovigbtr'rorward to profit and loss '"new account," of L2.575 17s 4d. The net, profit for .the. past twv years, including dividend and premium on shares, is £8,904 10s 4d ; while, until .-January last, the paid-up capital only amounted to L 12,852. The total net assets of the company are L 25.369 18s 4d, which is equal to L 5 19a 1 6d per share." The company had only two boats to work with during the first three months of the half-year, viz., the Golden Crown and the Star of the South ; the Pretty Jane, which was purchased at a cost of L 7.300, delivered in Auckland, having scarcely been three months in her present trade. The company purpose extending their operations, with which end. in view they have purchased the new compound s.B. Southern Cross.