UNION S.S.COMPANY.
♦ ANNUAL MEETING. [BY TELEORAPIf — VRESS ASSOCIATION.] DUNEDIN, 28th November. At the annual meeting of the Union Steam Ship Company, th'- Hon. G. M'Lean, Chairman of Directors, presided, and, in moving the adoption of the report and balance-sheet, mentioned the performances of the turbine ,teamer Loongana. The vefsel had giv.-n every satisfaction since she had take > up the running in the Launceston-AUlhourna trade, and justified the enterprise of the dhectors in being the first to ado i. the turbine method of propulsion in t! colonies. A 400 ft turbine steamer had ieen ordered for the intercolonial trade, id slie would probably be running wiihin twelve months. A dividend was declared at the rate of 4 per cent, for the six mouths ending 30th September, amounting to £24,000, and making 8 per cent, for the twelve months. It was resolved that a bonus of 2 per cent, be paid from the surplus on the realisation of Sydney wharf properties, and £100,000 placed to the reserve fund.
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Bibliographic details
Evening Post, Volume LXVIII, Issue 130, 29 November 1904, Page 6
Word Count
166UNION S.S.COMPANY. Evening Post, Volume LXVIII, Issue 130, 29 November 1904, Page 6
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