Northern Steamship Company.—Annual Meeting.

Auckland Star, Volume XXVI, Issue 115, 23 May 1885, Page 5

Northern Steamship Company.—Annual Meeting.

The annual meeting of the above company w.'w held on Alay '20, in the ollice, Lower Queen street, Mr D. B. Cruickshank, Chairof man Directors, being in the chair. Sixteen shareholders in all were present. After the proceedings had been formally opened, the Chairman enquired if the meeting would accept tho report and balancesheet OS rend, vrrtteen copies of them having been circulated in the room. Mr A. Bull suggested that the meeting should bo adjourned in order that tho report and balance-sheet might be printed and placed in the hands of tlio .shareholders. Tlio present, position of the company was very serious indeed, and he therefore thought it but right that the shareholders should have the opportunity of fully considering it before coming to the meeting. After some discussion upon this suggestion, which appeared to meet with much favour, the report and balance-sheet were read. They are as follow :—

BAL»KO"!-SrrBBT FOB TnK_YE4U ENDISra 3JRT March, 1835—Liabilities: To capital, IuOOOOm £1 shares: Colonial shares. 1W.289 at 12s 6d, ?.m, 180 11s (id ; Brltlßli shares. 301 at 1256d. £157 ma' liritiih nhDres 12 315at205, JGI2.34S— xIiJU 'ftl ?104 unSaid calls. £218 loa-£77,4M 12s Bd; premiums on shares fold, £«Jfl 2s 9d: insurance accounia owinK to Company. BUM 7s 7d : stock of unconsumed stores in ProvidonnK Department. £325 Is 7d ; shares hold in trust by Cant. MoOroKor, £335 IBs Gd; cash in hand £921* i2d ■balance of Profit and Loss Account, £5.113 7s9d, Toconeral expenses, interest, &c. £2,631 Is Id , insurance fund, £2,000; deprecation account £2 000- suspense account, £706: Total, «i,dS7 is Id 18Sl-April 1: By balance brought forward £218 7s6d; 18S5-Mnrch3l: Gross proflts. £1.721 loVlldV transfer fees. £3 108-*t.913 13s 4d; balance £5.443 7s 9d: Total, £7,387 Is Id.

The Directors, in presenting their annual report to the shareholders, regret that the operations o, the company during the past year have not been so successful as formerly. Two new steamers have been added to our fleet, but owing to seamen's strikes a ceneral dulness in trade, and other adverse circumstances, the anticipationsof increased business have not been realised. The balance at debit of profit and loss account on ! the year's business is £905 15s 2d, to which \ it has been thought desirable to add i 2,000 for depreciation; £2,000 for insurance, nnd £755 as a provision against doubtful is making L total i' 5443 7. 9d after deducting the credit balance at the beginning of the year. The Directors had loped that the present year would have been a more prosperous one for the company, but fear that tho collision between tho. I Macgregor and Wellington may prevent those expectations from being realised. Tho Directors retiring by rotation aro Messrs Cruickshank, M.acfarlane and Fraser, who are eligible and offer themS°> for re-election! Mr J. Milne auditor. ™*h-es and is eUglble for re-election. The adoption Of the'report and balancasheet lmviiK' been moved and seconded, a Kion ensued, in the course of winch Mr Bull proposed as an amendment, -That the meeting be now adjourned for a tho meeting adjourned.

Thn Wairarapa d^«"Bt SS,J?^!££,^ immigrants, per Ai*p ct rpefiiDßUm : - Annie Nelsh, Alex., John a -a JX"; Nodder. Mary son, ,J«nfi Btieklgnd,