SALTWATER CREEK.

Lyttelton Times, Volume XIX, Issue 1100, 27 May 1863, Page 5

SALTWATER CREEK.

On Wednesday last, the first general meeting of the shareholders of the Saltwater Creek and Ivaiapoi Steam Navigation Company took place at Cameron's Hotel, to elect the directors. The meeting was numerously attended, and, among other persons, most of the stockowners of the district and a considerable number of shareholders were present. The chair being taken by J. D. Lance, Esq., of Heathstock, lie congratulated the meeting on the early subscription of such an amount as had already enabled the provisional directors to order their first steamer ; and the shareholders were now called together for the purpose of electing directors and considering the future proceedings of the company. This being the first general meeting of the sharenolders, they would naturally look for a report from the provisional directors, which would now be submitted to them, and of which he doubted not they would approve. The report was then read, and as we have been favoured with a copy we are enabled to furnish it in extenso. Upon reading this report to the shareholders, the Chairman took occasion to call particular attention to that clause in the articles of association by which it had been determined that the original subscribers should be entitled to preference and priority, in the service of the company's vessels, over all others not being subscribers to the company, as that privilege might not be generally known and might possibly influence other persons interested who had not become subscribers. The report was as follows:—

The company was incorporated on the 16th February last for the purpose, primarily, of providing a suitable steamer for the local and absolute requirements of the district, but with the ultimate object of extending their capital, and establishing a general coasting steam service for the province by a class of fast sea-going vessels, peculiarly adapted to the more safe navigation of the shoal waters and bar harbors of the Islands; and thus to open up to this particular locality, not only the extensive forests of the Peninsular, but direct communication with the ports, and timber and mining districts of the adjoining provinces likewise. . The sudden withdrawal of the Avon steamer from this station at the commencement of the wool season, and the great inconvenience which her removal has occasioned to the settlers dependent upon her operations, amply testily to the necessity of the company's purposes. > The subscriptions at the last meeting of the provisional directors amounted to £3520, and, in accordance with the prospoctus published, they at once took upon themselves to procure a steamer for the company, although time had had scarcely allowed the first call upon the shareholders to be fully paid up. The directors, hopeless of being enabled to purchase pi the colonies a steamer suited to the service, have determined on getting a vessel built, and by the last mail transmitted the order to England, with the necessary funds to ensure her immediate construction, so as to be placed upon the berth for the coming wool season. In order to complete the proposed capital, we recommend that an early day be fixed within which further applications for shares should be open to the public, but that after that time preference in the allotment should be given to the original subscribers. For the better information of the shareholders as to the navigation of the Saltwater Creek, in reference particularly to the discussions which have taken place upon the subject, we may say that the entrance to the estuary or seareach, formed by the junction of the Ashley with the Saltwater Creek, is by a channel between the two sand banks called the North and South Spits, which, joining on the sea beach below low water level, form what is called the bar. On this bar there is ordinarily a depth of from 3 to 4 feet in the channel at low water, oftentimes upwards, but rarely less than 2 feet, dependent in a great measure on the long prevalence of easterly weather, which occasions a temporary accumulation of sand until again scoured out by the river. ' The ordinary rise of the tide is upwards of 6 feet, sometimes 7, so that at high water there is a depth of 9 to 11 feet in the proper channel. Inside the bar the channel deepens, and in the Reach, between the spits, up to the junction of the Ashley with the creek, from 10 to 12 feet may usually be relied on in the channel at high water. Just above the junction is a bank across the channel,_ which, for some 80 or 100 yards, limits the draught ot water there to the mere rise of the tide —an obstruction which may readily be rcduced; but thence upwards, to the township jetties, there is a depth of from 7 to 9 feet in the channel at high water. There can be no doubt that the creek and the entrance are capable of great improvement, when the Government shall bo disposed to consider the requirements ot the place. . In the meantime, it must be evident to all who are really acquainted with the capabilities of the place that the bar is at all times, after three-quarters Hood, salely accessible in moderate weather to vessels not drawing above 6 feet, when the course of the channel can be discerned from the mast-head, or be otherwise relied on. We may add that the channel of the river lias been properly staked out, and it is to be hoped that when the Marine Board shall have been organised, a proper person will be ollicially appointed to the continuous inspection and charge of this and the Kaiapoi river. It was then moved by Mr. Wilkin, and seconded by Mr. George Leslie Lee, that the report be confirmed, which was unanimously agreed to. The following gentlemen, all of whom were present at the meeting, were then ballotted in as directors of the company :—.Tas. 1). Lance, Esq., Chairman ; Captain Header, and F. A. Weld, Thos. Ritchie, Geo. Leslie Lee, C. E. Dumpier, and llobt. Wilkin, Esqrs. After a cordial vote of thanks to the Chairman, and a subsequent meeting of the directors, held for the transaction of some preliminary matters, the meeting was adjourned.