Page 4 Advertisements Column 2

Westport Times, Volume VI, Issue 975, 31 May 1872, Page 4

Miscellaneous. Alexander Kirkwood, formerly foreman to Messrs Scott, Russell, and Co., of London, and for years past superintending Engineer for the above steamships. The reports of theso gentlemen show that the vessels have been kept in excellent condition, and are ndw in first-class order. They can be delivered to tho Company, free from any incumbrance, as they arrive in the port of Melbourne, after the 10th of Juno next, without interruption to the several trades iu which they are engaged. In addition to the steamships, Messrs M'Mcckan and Blackwood will sell to the Company the land situated at the corner of Flinders and King streets, Melbourne, having a frontage of 59ft to Flinders street by a depth of 113 ft, upon which stands the offices and stores where the business has hitherto been conducted, and other buildings let to tenants.

The price at which the steamships, premises, and goodwill of the business are offered to the Company is £105,000, which includes all the spare gear, sails, yards, shafts, propellers, machinery, &c, whether on board or on shore, and all the stores and coal on board when they arrive ; and also includes the cost of supplying boilers, condencers, and pumps to the Claud Hamilton, which have been already contrapted for. In the event of the loss of either of the vessels before delivery, a deduction from the purchase The provisional directors estimate that the net earnings of the nine steamers, every charge being provided for except insurance, may be safely calculated at £35,000 per annum. This will give tho following result: — Interest on debentures ... <£ 3,000 Dividend at 10 per cent ... 12,000 Insurance and Depreciation Fund 11,000 Extra cost of management (Directors, Superintendent, &c), say 3,000 £38,000 This shows a return equal to 15 per cent, per annum, but with ordinary good fortune a large part of the sum set apart for insurance would bo clear gain, which, though not available at first for dividends, might be invested in new steamers, and the increasing trade would thus be provided for without increasing the capital upon which the dividends would have to be paid ; and when the fund shall have accumulated to a sufficient amount, which may reasonably be expected in a few years, the annual appropriation above pro T vided for might cease, and the sum go to swell the dividends to nearly double the amount estimated above.

The experience of such companies in every part of the world lias shown that, with careful supervision and judicious management, regular dividends may be relied upon. Perhaps no Company in the southern hemisphere has ever been established under such favorable circumstances as the present one ; for it will have a thriving business to begin with, which in private hands has produced the satisfactory result already described. 'With the influence of a large body of shareholders, and a steadily increasing population in all the Colonies, even better resu'ta may be anticipated. The area of steam eommufiloation in this part of the world is rapidly extending. Formerly it was confined to the inter-colonial trade, which has certainly not yet been fully developed, and which cannot fail to receive a great impetus whenever the restrictions created by the Customs systems of the different colonies are relaxed or removed. Besides, new lines are being projected, and some opened up. A largo passenger and carrying trade already exists between Australia, New Zealand, the Islands of the Pacific, and America. Then it is probable that the European mails may be carried between Australia and Galle in Victorian vessels—a service for which the steamships of this Company will be fully competent. Java and the islands of the Indian Archipelago would furnish another field for enterprise of this kind, and au additional means of extending the business of the Company. Melbourne is obviously the port best adapted to become the entropdt of the Australian colonies, and the ceutre of steam communication for this part of the world. The establishment of a company such as here projected will tend to secure for it both these advantages; and whilst affording a profitable field for the investment of capital, will contribute in no small degree to extend the trade both of the port and the colony, Pormsof application,and all information, may be obtained from the Broker and from the Secretary, by whom, and by the Company's Bankers at any of their branches, application for shares will be received; but no application will be considered unless the deposit of £1 per share has been previously paid to the Company's bankers. The articles of .association will be open for inspection at the temporary ofSce of the Company. * Immediately after the allotment of shares, the shareholders will be called t >gether to elect the first directory. Melbourne, April 13, 1872. Pull particulars may be obtained from D. GIRDWOOD & CO., Agents, Greymouth.