ANGLO-COLONIAL NOTES.

Auckland Star, Volume XXXVIII, Issue 132, 4 June 1907, Page 2

ANGLO-COLONIAL NOTES.

(From Oar Speeiai cerrespoudetet)

TiOmxyS, April 26

A steamer -which is being built for the -Union Steamship Company.j Ltd., of New Zealand, was launched a few days ago from the Neptune W r orks <oi Swan, Hunter' and Wigham Kiehar<ison, Ltd. The launch was witnessed by a good number of spectators, and as the vessel left the ways she was waned the Waihora, the christening ceremony being performed by Miss Geraldine Mills, daughter of the chairman of the Union S.S. Co., who was also present.

The vessel is built of steel, 385 feet in length -by-- £2 - feet- beam, and is to caTry a deadweight of 7500 tons on a light draft of -water. She i 3 being constructed under the survey of the British Corporation. 'Her propelling machinery •will consist of a set of triple expansion engines, which, together with their boilers, are also being constructed afc the. Neptune W-orks, and are expected to drive the vessel when fully loaded at a speed of 103 knots.

The accounts of- the Shaw, Savill, aisd Albion Company, Ltd., for 1906 show a profit of £22,547 on the year's working, after paying all expenses, carrying £10,----000 to renewal, repair, and boiler fund, £2500 to the insurance fund, and making provision for depreciation. An interim dividend for tie first half of the year has already been paid upon the preferred and ordinary shares, and the directors recommend that Tipon both classes of shares a dividend for t&c remaining six months at the rate of 5 per cent per annum be paid on May 1, the dividend for tfie year on the. ordinary shares to be paid free of income-tax. The remaining balance oi £3009 the directors propose to carry- forward. The directors decided that the insurance risk on the steamers might with advantage be partly run by the company. An insurance fund has, therefore, been, opened, and it v/as deemed advisable to strengthen this by the transfer from revenue of tiJoOO.

One of the interesting features of the report of the Shaw, Savill, and Albion Company is the statement that its fine new twin-screw passenger steamer Arawa, of 9372 tons gross, is jointly owned with the Oceanic Steamship Navigation Company, Ltd., otherwise the White Star line. The identity of in> i terests between these two companies in the New Zealand trade ha# heretofore "been close, hut it was not, perhaps, generally understood that they were so complete as this statement" suggests. The I Teport, by the way, mentions the disposal !by the Shaw, Savill, and Albion Co. of one of their sailing vessels, the last but one oi a once famous fleet. This sole survivor, the Wesfcland, has been also sold. Possibly the company has found these ■ sailing ships of considerable service in past years in connection with the training of its officers, but at length they •have had to go. Foreigners are the principal buyers oi these old sailing ships.

The report of the Assets Company, litd., for 1906. to be submitted at the meeting at Edinburgh on the 30th. inst., eho-ws, including £929 brought forward from the previous year, a balance of l£ 10,669, out of which the directors Tβcommeni a dividend of 5 per cent, along , with, a bonus of" 5 per cent, free of in-come-tax. This-will absorb £10,000, 1 earing a- balance , of £669 to be carried fomatd, and, vcifch . the interim dividend of 5 per cent paid in July last, makes a total distribution for the year of 15 par cent. The profits from the company's 'property in Isew Zealand" again shows very satisfactory result, chiefly attributable to the excellent prices received ior wool. During the yeaT legal expenses amounting'-to £1000 have been recovered in New Zealand in connection with the land titles litigation, and tains bean duly credited. The directors refer with regret to the Jobs which the company has eus■tained by the death of Mr. James L. Boyd, one of their number. Mr. Boyd was one of the original directors of the company, and rejoined the Board a few years ago.