NORTHERN SHIPPING CO.

Auckland Star, Volume XXXII, Issue 116, 17 May 1901, Page 2

NORTHERN SHIPPING CO.

ANNUAL MEETING. The twentieth annual meeting of shareholders in the Northern .Steam, ship Company was held this alteraooa in ihe o flice of the company, Quay, street, Captain 11. F. Anderson, chair. mun of directors, presiding. The annual report of the Hoard of Directors was read as follows:— "The net iirolit on working accounts tor the yeui euUiiij; March "Ist, after makiw provision for insurance, depreciation, aai builer accounts, etc., is XOio-i 8/5; transler fec-a total £10 I/ti; nutl the b<;i;ince brought forward on April Ist, J'MO, was £SUO a/5 —a graud total of £0003 ID, 4. The following appropriation of tliis amount is now jj£ uoiiinu'Uded:—To payment of a dividend at LLc rate of 7 per cent, per annual, halt oj n-llicb was paid to sUuruiiolilcrs on Moreniber l'Jtii, I'JVU, as an Interim diYidend,£4so7 3/4; leav'ng a balance to be tarried to the credit of l'rolit and Loss New Account, £14!W IU/. The directors retiring by rou, tiou are Mr W. 8. Wilson and Mr M. A. Clark, who are eligible and otter themaelves' for re-election. The directors respectfnllj recommend that the same amount of honu rarium as lust year be voted to them for their services. Mr Charles A. Jonas, audi tor. retires, and is eligible for re-e.ectiiH!. As the directors think It advisable to haw a second auditor, they recommend the aiipoiiitintnt of Mr G. O'Halloran, jun., to aci w'H'h Mr Jonas. The dividend will be paid at the company's office, Quay-street, Auck land, on and after Monday, the 2uth day" of May." Balance-sheet to March Ml.—Liabilities: To capital subscribed, 104.250 shares, 7/ paW up, £313,501 3/; 45,711 shares, 14/G paid up. £X,140 9/(3—that Is, 150,000 Hhares paid u(. to £G9,(>41 12/(3; to Insurance Account, .C 32,054 0/9; Boiler and Kepirs Account, £Cb''iO 16/10; bills payable,£ol) 5/3; accounts owing by company, £31,510 14/3: balance of Profit and Loss Account, £.^874 5/2: total, £144,30(3 0/9. Assers: By vessels and tear, less amount at credit of Depreciation Account, £128,858; Quay-street premises, £535S 10/5: stores on hand. £3237 0/8; accounts owing to company, Including agents' balances, £u7ll ft/4; bills receivable, £1)0 2/4: total, £144,306 0/0. Profit and Loss Account.—To interim dividend for six months, paid in November, af. tiie rate of 7 per cent, jjer annum, £2121 34/2; balance, £.'JB74 5/2: total, £0003 19 4. By balance brought forward, £2001 15/5— less dividend 7 ppr cent, declared May 18, 1000, and directors' honorarium voted same day, £1004 12/, leaving £910 3/3; net profit for 12 months, after providing for Insurance. Depreciation, and Roller Accounts, £5083 8/5; transfer fees, £10 7/6: total, £0003 19/4. Available balance brought down, April 1, 1901, £3874 5/2.