THE FERRY COMPANY.

Evening Post, Volume LXXV, Issue 121, 22 May 1908, Page 8

THE FERRY COMPANY.

SECOND ANNUAL MEETING. STEAMER v. TRAMS. The second annual general meeting of the shareholders of the Wellington Harbour Ferries, Ltd., was held yesterday, the chairman of directors (Mr. W. Watson) presiding. In the report the directors expressed regret that the result of the past year's work was not quite so satisfactory as that of the preceding year. Owing to tramway competition, the Seatoun and Karaka Bay" trade had 'been rendered unprofitable for the present, and it had been found necessary to considerably curtail the service. The increased expense incurred by running three extra return trips daily to Rona Bay had alsp diminished the profits. On the other hand there had been an increase in the harbour work, and the s.s. PiJofc had proved very useful in that work. The daily service to Miramar had been discontinued. The arrangement, however, which had been entered into by the Wellington Rugby Union to lease tho Miramar Park for three years, would, it was hoped, be productive of considerable revenue to the company during the winter months. Tho balance at the profit and loss account, after providing for depreciation and writing down goodwill account, was £1794. The directors recommended a dividend of 6 per cent., which would absorb €1639, leaving a balance of- £155 to be carried forward. In moving the adoption of the report and balance-sheet tho chairman said it was thought by some of .the shareholders that the traffic by the steamers would rather be increased than' diminished after the opening of the tramways to Seatoun and Miramar, but whatever might accrue to them in that- direction from the increase of population in future, it was certain that but little existed for the company in running to Seatoun or Karaka Bay at present. Keeping up a regular running to the east side of tho harbour during the winter months had so far been unprofitable to the company; and until a larger resident population settled between Lowry Bay and Muritai that condition must remain unaltered. Also the company had had to face in recent years a gradually increasing cost in wages and other expenses. In the circumstances he trusted that the shareholders would consider a 6 per cent, dividend as not unsatisfactory. Thanks were due to Mr. Zohrab and the office staff, captains, engineers, and other employees, for their energetic and efficient services during the year. The motion was seconded by Mr. J. Marshall and carried. Messrs. W. Watson and A. E. Mabin were re-elected directory. The remuneration of the directors was fixed at £200. Air. O. S. Watkins was re-elected auditor. Votes of thanks were passed to the manager, Mr. E. G. F. Zohrab, and the staff, and to the chairman for presiding.

A concert was given in the Toiy-street Mission last evening by Miss Coventry, who has trained a juvenile orchestra, which is to provide music for the church services on Sunday. The orchestra made its first public appearance last night, and gave a, creditable peifoimance. A number of friends also contributed items. The church parade of tho Wellington defence forces in connection with Empire Day will bo hold on Sunday morning. The service jit the Town Hnll will begin at 11 a.m., and will bo conducted by Chaplain-Major Sheriff, who will read the prayeis, and Chaplain-Captain Shirer, who will read 'the Lessons and preach an appropiiate sermon. A meeting of thoso desirous of joining a "first-aid" class for men at Newtown will be held Jhijj gy.en.inx,.