OEVONPORT STEAM FERRY CO., LIMITED.

Auckland Star, Volume XXXVII, Issue 146, 20 June 1906, Page 6

OEVONPORT STEAM FERRY CO., LIMITED.

The elerentli report and balanco-saoot or ttie Devoaport Steam Perry Company for the year ending April 30th. 19tX> to be submitted at a meeting of shareholders on Friday next, states:—The directors bave pleasure iv presenting The eleventh report and balance-sheet, and in doing so congratulate shareholders on tlie successful results of tne year's operations. The vet profit for the year, alter addius £500 to tlie insurance account, aud making allowance for depreciation, is £4108 1/3. which sdiied to the balance brought forward last rear (£4945 8/1) makes a total at £9053 10/4. An interim dividend was paid for the h.atf year ending 31st October, 1905, absorbing £1,602 IV- leaving an available balance at date of £7450 19/4. This amount your directors recommend be disposed of aa follows: Tβ payment oX a dividend for halfyear ended 30th April, 1906, at the rate of ten per cent per annum oil the shares fall? paid-up prior to 31st October last, absorblujsf £1763 %l. and to carry the balance £5687 17/4 forward to next year'e aeeouni:. Aβ Intimated in last year's report tendew were Invited for the building of a double-ended screw steamer for the Devonport service. Mr C. Bailey, jun., being the successful tenderer. The steamer named tlie Keetrel was launched in December last, and has since been regularly running oa tu* Devonport line, and is in every respect a success. A favourable offer to sell the islaml of Motu Korea to the company bavins been submitted, the directors decided to acquire same. During tie year the company disposed «f the small tug Kestrel (lat« Ferret) to a purchaser from Wellington. Iα accordance with tlie articles of association, Mr J. H. B. Coatss retire* from the directorate, but being eligible offere uiinself for re-election. The retiring auditor, Mr W. 11. Cimrton, offers himself tor re-election. If approved, the dividend will be payable at the company's office, on and after Mondfiy. the 23th June. 1906.—(Signed) For the B<xar<l of Directors, Ewen Win. Alison. Chaiimau.

■Hie balance-sheet for Ui« year euded April 3a 1906, sUowe that the paid-up eapitaj of the eanipany i« £89,249 10/, the reserve fund is £7647 12/; insurance account, £3500; unclaimed diTidends, £3.9 IS/S; sundry creditors, £7i48 13/5: profit aad lo&a, balance, £7450 19/4; staking a total of £65,036 13/. On the otter side appear toe following Heme: By steamers, plant, freehold, and leasehold property, inortsa#e, etc., £61,145; sundry debtors and bills receivable, £2994 16/10; stock on hand, £337 18/9; cash. In aanfl. £55S lt/3.