THE NEW ZEALAND SHIPPING COMPANY (Limited).

Daily Telegraph (Napier), Issue 3150, 2 August 1881, Page 3

THE NEW ZEALAND SHIPPING COMPANY (Limited).

The following is the eighth annual report of the directors of the New Zealand Shipping Company (limited), to be presented to fche shareholders at the general meeting to be held afc the head offices, Hereford-street, Christchurch, on Eriday, the 12th day of August, 1881, afc noon : —■ The business of the comparty has been well maintained, and with satisfactory results. The company's ships are in a high state of efficiency, and have been free from accident of any serious nature during the year. Your directors aro glad to inform shareholders that Mr Coster has accepted the position of managing director, and his able services will now be devoted to fche conduofc of the company's business. The insurance fund has afc credit fcho sum of £6426 17s 9cl. Of the balance at credit of profit and loss at the 30th June, £40,956 6s lOd, the directors have appropriated to the reserve fund, which will then stand afc £100,000, the sum of £25,000, and your direofcors propose to pay a dividend of 10 per cent, for the year, of which a moiety was paid in January last, £12,500, and to carry forward to profit and loss new account £3456 6s lOd ; total, £40,956 6s lOd. The following directors retire, and offer themselves for re-election • —John Anderson, John Studholme, and A. Cracroffc Wilson ; also, Robert Wilkin, who has been elected by the hoard to the seat vacant by the i resignation of C. W. Turner. The dividend will be payable at the head ] offices and all the colonial branches on and after the 13fch August instant. For the board of directors, H. P. MtTBBi.-_-AYNSLEY, Deputy- Chairman. Christchurch, 26th July, 1881. BALANCE SHEET, Dr. £ s. d. £ H. d. To Capital subscribed .. 250,000 0 0 Less amount uncalled 125,000 0 0 125,000 0 0 „ BUs payable .. 9,157 0 9 „ Debentures, fixed deposits, and accrued interest .. .. 117,86. 311 „ Dividends unclaimed 156 15 0 „ Sundry debts due .. 57,932 13 3 „ Reserve fund .. 75.000 0 0 „ Insurance account.. 6,426 17 9 „ Balance at credit of profit and lobs .. 40,956 610 £432,497 17 6 Cr. By Company's fleet of ships, costing: .. 336,802 19 7 ~ Sundry property and stores on hand and afloat .. .. 3,507 14 11 ~ Leaseholds and office furniture—London and Colony .. 13,462 0 9 „ Sundry debts due, including net freights collectable (insured; .. .. 56,702 16 3 „ Cash balance at credit with bankers 13,205 9 8 „ Petty cash at London and Agencies .. 54 10 5 „ Bills receivable .. 2,451 19 11 15,712 6 0 „ Dividend accountInterim dividend paid in Januaiy .. 6,250 0 0 £432,497 17 6 rRO-TT AND lOSS ACCOUNT. Dr. To Reserve FundFurther appropriation, bringing it up to £100,000 .. 25,000 0 0 ~ Dividend Account - To provide for interim dividend paid in January Jasfc .. 6,250 0 0 I'm ther proposed dividend, making 10 per cent, for the year ended 30th June, 1831.. .. 6,250 0 0 ~ Balance— Carrion forward to profit and loss new account .. .. 3,456 610 I £40,956 6 10 Cr. By BalanceBrought forward 2,357 14 3 „ Nett Profit— Of tho operations from 30th June, 1880, to 30th June, 1881.. .. 38,598 12 7 £40,95G 6 10 CAPITAL ACCOUNT. Dr. To amount subscribed-25,000 shares of £10 each 250,000 0 0 £250,000 0 o Cr. By amount paid up—25,080 shares at £5 each 125.000 0 0 „ Balance of capital uncalled.. .. 125.0 CD 0 0 £250,000 0 0 We have examined the books, accounts, and vouchers of the New Zealand Shipping Company Limited, including the London balance-sheet to 30th .April, duly audited and certified as correct by Messrs Quilfcer, Ball, Crosbie, Glegg, and Welfcon, of Mor-gate-street, and hereby certify thafc the foregoing is a full and fair balance-sheet, and properly drawn up, so as to exhibit a true and correct view of the company's affairs to the close of these accounts. Dayid Craig) a ~, A.Caeeick ) Auclltors - Christchurch, 22nd July, 1881.