Untitled

New Zealand Herald, Volume XVII, Issue 5760, 4 May 1880, Page 4

The half-yearly meeting of the Kaipara Steamship Company took p'ace yesterday ; Captain Colbeck presided. Tlie report shewed that on the half-year's operations there was a deficit in profit and losb of £1306 13a 9d. This result is principally brought up, as the chairman stated, by the large sum exfeaded on interest of overdraft. There are at present 2667 unallotted shares, which, if taken up by the Kaipara settlers and Auckland citizens interested in the development of the Kaipara trade, would put a different face on matters. Some of the Northern districts, we Isarn, have not supported the enterprise to the extent that might have been expected, forgetful of the fact that if they received but a very moderate rate of interest on the capital invested they would gain by the reduction of freight charges, regularity of steam communication, and the enhanced value of land consequent upon

that boon. There is little doubt that the enterprise initiated by the Kaipara Steam* ship Company will ultimately prove highly remunerative; The matter ia simply, a question o£ time, for every year settlement is increasing on the banks o£ the great rivers which fall into the Kaipara estuary, and; its three hundred miles of inland navigation must develop a trade worth securing and holding by those who have, as Captain Colbeck stated at yesterday's meeting, the , " necessary pluck and perseverance to see I the battle through."