CHRISTCHURCH CONVEYANCE COMPANY.

Lyttelton Times, Volume II, Issue 81, 24 July 1852, Page 8

CHRISTCHURCH CONVEYANCE COMPANY.

Report of the Committee of the Christchurch Conveyance Company io the first half-yearly Meeting of Shareholders held at Mr. Alport's Sto7-e, Lyttelton, on Monday the 12th day of July, 1852:—

"Your Committee on presenting this their first report of the proceedings of the above Company, review with much satisfaction the successTul results that have ensued from the operations of the past eightmonths.

"At the period when it was thought desirable to establish a mutual Conveyance Company, great imposition had been practised, and loss by depredations sustained for a long period which fell peculiarly heavy upon the Storekeepers and others of Christchurch. Not only have these practices been altogether abolished, but from the commencement a reduction of ss. per ton on freights was made, which was shortly followed by a further reduction of ss. per ton, thus reducing freights alone by the operations of the Company, from 30s. to 20s. per ton, or one-third of the original sum charged.

" The subject of incorporating the Company in order to place it upon a more permanent footing is one of considerable moment, but the state of the finances heretofore have not admitted of the necessary outlay for legal expenses. It is, however, now desirable that no further delay should occur, and it will consequently be one of the subjects for discussion at the present meeting.

" Some little delay and inconvenience have been experienced in collecting the freights, but the Committee having made arrangements with Mr. Packer to undertake the agency and collection of accounts at Christchurch, this difficulty will in future be obviated; and it will now be for the Shareholders to consider whether the funds at present in hand should be appropriated to paying a bonus upon the shares, as future funds promise to be fully adequate to the necessary expenditure. In reference to this subject your Committee are obliged to notice the slight accident which occurred to the " Fanny" a short time ago by getting on the Sumner Bar ; but they congratulate the Shareholders at the same time upon the trifling damage sustained in consequence of the casualty. They notice this fact to point out more particularly to the Shareholders that, though they have fortunately escaped thus far from the dangers presented by this formidable barrier to the navigation, yet that the dangers still remain, and might not always be accompanied by the same immunity from loss. " The accounts to the end of June have been prepared by the Honorary Secretary, and are now submitted to the Shareholders for inspection, and which your Committee trust will be found satisfactory."

At the meeting of Shareholders held at Mr. Alport's Store, the above report was submitted and adopted. A bonus of £l per share (equivalent to 20 per cent upon the paid up capital) was declared: the consideration of incorporating the company was postponed till the next half yearly meeting in January; Mr. Packer was appointed Agent for the collection of freights; the Secretary was empowered to prepare a form of scrip for the shares, to be rendered transferable by endorsement, and to be signed by the Trustees, and counter-signed by the Secretary; votes of thanks were extended to Mr. Alport for his unremitting exertions on behalf of the Company— to Mr. Gundry, for his services as Ilonorary Secretary—and to Mr. Bishop for his conduct as Chairman.

We are given to understand that the Company intend reducing the freight one-half upon all Agricultural produce shipped from the Plains to the Port; a decision which cannot prove otherwise than highly advantageous to Agriculturists, who will thus secure their produce being brought round at 10s. per ton. It is likewise hoped that in due time, the Company will be enabled to extend their operations to other Ports in these Islands, and ultimately to Tasmania and Australia : so as to secure to this Port the advantages and profits now almost exclusively confined in the hands of other Settlements.