THE COASTAL STEAMSHIP COMPANY.

Auckland Star, Volume XXIX, Issue 278, 24 November 1898, Page 8

THE COASTAL STEAMSHIP COMPANY.

The annual meeting of the shareholders in the Coastal Steamship Co., Ld., was held at Warkworth on Friday, November 18, and in the evening- a concert and dance were held. About forty shareholders were present at the annual meet.ng, at which Mr James Dunnett, chairman of directors, prestck'd.1 Tte chairman presented the report for the period ending September 30th. He stated the success which had attended the efforts to establish a popular and efficient settlers' steamship company had been in every way encqtiraging, 6000 shares had been sold, and more were being applied i for every week. The Board of Directors was satisfied that in the near future the company's shares would be eagerly sought after, and had determined to sell omy to country settlers. The fine steamers Kapanui and Kotiti were a credit to all concerned, and were exactly suited to all requirements of the trade. The balance-sheet, showed' that the Kotiti's operations had resulted in a fair profit. Takinginto consideration the fact that, she commenced running1 at the Very worst time" of the 'year, and against an opposition charging half rates, the directors and shareholders had every reason to be more than gratified at the result. In conclusion, he had to state that their finances were in a very sound state.

The following1 is the balance-sheet as at September 30:—Liabilities: Capital, IG,OOO shares at £1 each, £16,000—less 10,029 unallotted shares, £10,029; 5971 shares taken up, £5971; less calls unpaid, £1573 4/. Capital paid up, £4097 16/; to contracts, £7525; less payments on account, £6120 — £1705; sundry creditors, £2113 1/9; balance profit and loss account, £43 11/7: total, £7959 9/4. Assets: S.s. Kapanui, £5055 10/4; s,s. Kotiti, £2830 10/5; furniture, £18 14/; sundry debtors, £53 11/9; cash in hand, £1.2/10; total, T7959 9/4. Profit and loss account for period ending- September 30:—Dr. to charges and expenses, £20 3/1; wages, £194 1/6; dues and wharfages, £2 0/6; maintenance, £55 14/5; claims, £2 0/1; interest and discount, £24 6/3; balance, £43 11/7: total, £341 17/3. Or.: By revenue, £341 17,5. The report and balance sheet were adopted unanimously, and the re-tiring-directors were re-elected, the following names being1 added:-— Messrs. Anton and Russell, of Puhoi; Hobbs, of Whangaparoa; E. 'B. Anderson and J. Harrison, Auckland.. It was decided to hold the next annual meeting in May at Warkworth. In the evening a concert was given in the hill, followed by a dance. At the concert Mr Dunning spoke of the cumpauy's affaiis, detailing the advantages offered by., the company's boats. Over 100 .shares were taken up during the evening."