NORTHERN S.S. COMPANY.

Auckland Star, Volume XXIX, Issue 135, 9 June 1898, Page 8

NORTHERN S.S. COMPANY.

DIVIDEND OF SEVEN PER CENT.

The annual meeting of shareholders in the Northern S.S. Company (Limited) was held at three o'clock on May 20 at the ollices, Palmerston Buildings. - There was a good attendance, the Chairman of Directors, Mr James Macfarlano, presiding. Report.—The manager, Mr C. Hanson, submitted the 17th annual report of the directors as follows :—Tho directors beg to submit their report of the operations of the Company for the past year : The net prolit on working accounts for the year ending March 31st, after making provision for insurance, depreciation, and boiler accounts, etc., is £3,624 12s lid ; transfer fees, £5 2s Gd ; balance brought forward April Ist, 1897, £062 14s 7d ; total, £4,292 10s. The following appropriation of this amount is now recommended—To payment of a dividend at the rate of 7 per cent, per annum, half of which was paid to shareholders on November 15th, 1897, as an interim dividend £3,189 4s, leaving a balance to be carried to the credit of prolit and loss new account £1,103 6s. Tlio directors retiring by rotation arc Captain H. F. Anderson, Messrs A. H. Nathan and J. R. Gray, who are eligible and oiler themselves for The directors respectfully recommend that the same amount of honorarium as last year be voted to them for their services. Mr Charles A. Jonas, auditor, retires, and is eligible for re-election. The dividend will bo paid at the Company's ollico, Palmerston Buildings, Queen-street, Auckland, on and after Monday, the 23rd of May.—For the Board of Directors, James MacFarlane, Chairman."

Balance-sheet, for the year ending March 31»t, 1898:-— Dr. : To capital, authorised, £108,750 in 150,000 shares of Ms Gd each ; Colonial shares 104,289, 7s paid, £30,501 3s; British shares, 12,495, fully paid, 9,058 17s .0d—£45,560 0s lid ; Insurance account, £26,821 5s ; boiler and repairs account, £G,311 ls 3(1; accounts owing by Company, £25,974 146 2d ; balance of prolit and loss account, £2,097 18s. Total, £107,304 18s lid. Cr. :By Company's vessels, gear, etc., less amount at credit of depreciation account, £90,150 16s 2d ; coal and stores on hand, £1,751 10s lid; accounts owing to Company, including agents' balances, £0,450, lis lOd. Total, £107,304 18s lid.

Prolit and Loss Account.-—Dr. (November 15th, 1897) : To interim dividend for six niontns, at the rate of 7 per cent, per annum, £1,594 12s ; to balaace, £2,007 18.s. Total, £4,202 10s. Cr. : (April Ist, 1897) — By balance brouuht forward, £4,251 18s 7d, less dividend 7 percent, declared May 21st, 1897, and directors' honorarium voted same day, £3,589 4s ; £062 14s 7d. (March 31st, 1898) —By net prolit on working accounts for 12 months, alter providing for insurance, depreciation) and boiler accounts, £3,024 12s lid ;by transfer fees, £5 2s Od. Total, £4,292 10s. April Ist, 189S~-By available balance brought down, £2,097 18a. The. report and balance yheet were adopted, Captain 11. F. Anderson, Messrs A. 11. Nathan, nnd J. H. (iray were re-elected auditors, ami Mr 0. Jonas was re-elected auditor.