MEETINGS.

New Zealand Herald, Volume XXVIII, Issue 8501, 27 February 1891, Page 1 (Supplement)

MEETINGS.

♦ .. AUCKLAND CHAMBER OF COMMERCE. Tiy; annual mooting of the Auckland Cham ber of Commerce was held on February 19. Captain Colbeck, president, occupiec the chair, and tho following members wen present:—Messrs. McMillan, Porter, N. A Nathan, Gilmore, Bridge water, Murchio McCorquodale, Allen, Lodder, Lawry Kent, Henderson, Ehrenfried, Aickin, and Vaile. ANNUAL RETORT. On the motion of Mr. Porteti, seconded by Mr. Nathan, the annual report and balance-sheet, printed copies of which were in tho hands of members were taken as read. We extract the following from tho report for tho year ending July, 1890:— Your Council, in presentiug their report oi subjects that have engaged their attention during the last year, have much pleasure in stating that, although no very important question has been under consideration, attention has been given to several matters of more or less importance to the commercial community. Detailed particulars are annexed hereto, bearing upon the prosperity of the country. IMPORTS AND EXPORTS. v These two items—imports and exportsbeing the key to the progress of the colony generally, bear first place in any exposition of a colony's progress. Your committee, therefore, give it the prominence it deserves. A bare glance at the difference of the last year, and this must convince anyone that a colony showing such an increase cannot but be on a fair road to prosperity. If our Government will only carry out their promised abstention from borrowing, remove some of the difficulties clogging our commerce, and observe economy in all departments, the future should be one of golden hopes. The total amount of exports for ISSS was £7,767,350, and for ISS9 £9,339,265, and from a comparison of the items it would bo seen that an increase had taken place in every article of agricultural produce. The imports showed a, total of £.3,941,900 for 1888, and £6,297.097 for 1889, showing an increase of £355,000, made up principally of such goods as could nob be produced in the colony.

CUSTOMS TARIFF. 'Considerable dissatisfaction is expressed by importers at the harassing mode of assessment of duties upon articles that do not quite agree with Customs definition, and also as to the continuous and frequent alteration made by the Customs authorities. Almost every Gazette contains notification of some new ruling, both embarrassing and almost unintelligible. A simplification of the tariff is much needed. Your Committee lost no time in urging upon the Government the necessity of terminating the obnoxious primage duty, and it was only when considerable pressure was brought to bear by the Chambers of the colony that its re-imposition was defeated. MAIL SERVICES. It is to be hoped that the long battle of the routes is settled at last, and that the most obtuse of the opponents of the 'Frisco route will be convinced of its utility and cheapness. From a return published by Government, it appears that the average number of days within which the mails were delivered between London and New Zealand was 35 62 days to Auckland, and 39'52 to Bluff, as against 48 "23 days to Auckland, and 45"4(3 to Bluff, thus showing a difference in favour of San Francisco of 13 daysto Auckland, and as a promise of a further acceleration of mails by three days is given, little is left to be desired. ISSB. 1889. Payments made to San £ s. d. £ a. d. Francisco service .. 31,591 2 27,394 8 0 Amount of postage received.. ..' _ 31,f>6S 5 7 30,307 2 5 Cost to colony .. .. £23 8 7 Profit to colony £2,912 14 5 The Chamber will have carefully to watch attempts made to alter port of call here, as every effort is being made to have Wellington as the port of call both inward and outward. The report then dealt with the queetion oi immigration and the inducements offered by the colony, also with the proposed imendmenb of the bankruptcy laws, and then dealt with other subjects. RAILWAYS. The change from a responsible to an irresponsible management does not seem to have worked any amendment in railway matters, f he present management, instead of giving jreater and cheaper facilities for railway travelling, have turned their attention more to getting revenue than facilitating travelling, This they have secured by lessening the number of trains and working with a cheaper stall if officials—certainly not to the benefit of ;he travelling public. It is to be hoped that .ipon expiry of their term of office, some jther change will be attempted cannot be Much worse. MINING. Many of the mining laws are still in a most unsatisfactory condition. A committee of ;his Chamber have had these subjects under consideration, and copies of resolutions passed were forwarded to the Government 'or their consideration. A new feature in nining law has been recently introduced, /iz., non-liability. Under this law several of ;he companies registered in New South Wales lave been working. Large debts due to niners and others are lett unpaid, the credi;ors having no power to compel payment. We expect from the present Minister of Vlines, who is a practical miner, that greater nterest will be taken, and more encouragenent given to mining affairs generally. LAND AND LAND LAWS, AND MODE OF ACQUIREMENT. As the settlement of our lands promises to jccome the most important question in our uture, and upon such settlement the prosperity of the colony is bound up, your comnittee think it advisable that the mode of inquiring such lands should be made known is widely as possible, and every facility ;iven to intending settlers to acquire land in $ew Zealand. New Zealand, from its geo;raphical position, offers to intending settlers , selection of climate ranging from Italy on he north, to Scotland on the south, and apable of producing all and every article as n those favoured countries, comprising vithin its limits upwards of 100,000 square niles, about one-sixth less than Great Britain nd Ireland. The coast line extends over 000 miles, having for outlets four principal >orts, easy of access to vessels of the largest :lass, with many minor ports capable of .dmitting vessels of smaller tonnage. This, ioupled with railways and roads already nade to connect the principal towns, gives very facility for transmission of goods >etween producer and consumer. The total irea of the colony is 66,000,000 acres, which a held approximately as follows : — . Acres. Reserved, alienated, or held with right of alienation ... ... 19,500,000 leld on inalienable tenure ... 32,500,000 Jnoceupied Crown lands... ... 11,000,000 Midland Railway ... ... ... 4,000,000 Native lands ... ... 10,000,000 3arren, lakes, etc. .„ ... ... 9,000,000 66,000,000 LANDS AVAILABLE FOR SETTLEMENT. ]rown lands. ... ... 3,500,000 Native lands... ... ... „, 4,000,000 Midland Railway ... ... ... 1,500,000 "^OOO,OOO }rown pastoral lands ... _ 7,500,000 Native pastoral lands ... ... 6,000,000 didland Railway pastoral lands... 2,500,000 25,000,000 MODE OF ACQUIRING LANDS. By application or free selection. Cash anas—no larger area than 640 acres first-: lass, or 2000 acres second-class, in any one and district. Deferred payment—applicaion is made first, as in the case of cash ands, but 25 per cent, lias to be added to the tpset cash price as advertised. Perpetual ease— 2\ per cent, of the value of the land o represent the first half-year's rent; annual ent is 5 r>er cent on the capital value of the and; average price of land from 5s per acre ip to £2, according to soil and accessibility, tc. Overtures are being made to the natives o open up their lands. Should this prove

effective, a large parcel of first-class lands-— about 9,000,000 acres, principally in the North Island, will be available for immediate settlement. - BALANCE-SHEET. The balance-sheet was as follows :— * Receipts.—Balance at bank, to June 30, 18S0, £5 7s 7d; subscriptions, 1888-9, £4 4s; subscriptions, 1889-90, £202 13s ; rent brokers' room, £15; rent from secretary, £50; balance due secretary, £1 11s lid : total, £278 lCs 6d. Expenditure.—Creditors end of June, 1889, £135 0s ; printing, advertising, stationery, postage, telegrams, £41 15s 9cl; subscription to papers, £12 ss: secretary's salary, £50; auditor, £2 2s ; rent and taxes, £37 5s 2d; balance in bank, 8s : total, £278 163 (id. THE CHAIRMAN'S ADDRESS. The Chairman delivered a lengthy address, referring to the most; prominent events in the history of the colony during the past year, and concluding by an expression of regret at the death of the late vibepresident, Mr. John Milne. )' '' Mr. C. C. McMillan moved " Thafc the report and balance-sheet bo adopted, and the thanks of the Chamber be accorded to Captain (Jolbeck for his excellent address, and that it be printed with the report of the Chamber." ; Mr. 0. Aickxn seconded the motion. The Chairman said he need not put the motion, and he need only- say that he hardly thought ho deserved all the kind things that had been said of him, but it he failed it was more for want of opportunity than want of will. (Cheers.) ELECTION OF OFFICERS. Tho following gentlemen were duly nominated and elected members of the Council: —Messrs. N. A. Nathan, C. V. Houghton, A. Porter, A. Bell, J. Bridge water, John Reid, Captain Colbeck, and M. A. Clark, four out of the number being new members. Captain Colueck then proposed " That Mr. Adam Porter bo elected president for the ensuing year." Mr. N. A. Nathan seconded tho motion, and in doing so said that Mr. Porter had been a member and had been on the Council for many years, and no member had taken greater interest in the business of tho Chamber than he had done. (Hear, hear), lie had great pleasure in seconding tho motion. The motion was then pub and carried unanimously. Captain Colbeck then proposed the reelection of Mr. J. Waymouth as auditor, and spoke highly of his faithful services for many years past. Mr. McMillan* seconded the motion, and it was carried unanimously. THE SECRETARY. Captain Colueck said he wished, before they separated, that they should record their appreciation of the assiduous services rendered by their secretary, Mr. Young, by according to him a vote of thanks. He believed the position had never been occupied by a gentleman who had the interests of the Chamber so much at heart. The Chairman, in seconding tho motion, testified to the uniform courtesy and assiduity of Mr. Young, and the motion was carried unanimously. Mr. Young briefly returned thanks, and the meeting terminated. AUCKLAND GAS COMPANY. The twenty-ninth annual meeting of the Auckland Gas Company (Limited) was held on February ,2. About thirty shareholders were present. On the motion of Mr. Newman, seconded by Mr. Peacock, Mr. Reader Wood was called to the chair. The Secretary (Mr. Parsons) read the minutes of last meeting, which were confirmed. directors' REPORT. The report of the directors was read as follows :— In the report submitted for the consideration of the shareholders at the last annual meeting, the directors announced their intention to reduce the price of gas. This has been carried into effect with the following result.:-— First, the quantity of {its sold has slightly increased ; second, the revenue lias decreased by £3459 Ss 7d. In consequence of the strikes the expenses have been much creator ;han your director* anticipated. The coat of coals lias been increased !>y tho sum of £-2060 10» 10d, Hid tho not profit for the year is less than the profit )f the previous year by £588:2 13s 4d. The usual lividend has not been earned by tho sum of £1911 15s 3d. From last year a balance of £3310 ISs Id • .vas carried forward for the use should less favourible circumstances materially reduce the profits of he company during the year. These unfavourable lircuinstftncos have unfortunately arisen, and tho lireetors propose that £793 2s 9d of this sum be ippropriatert to supplement the revenue. The iccounts show a nut profit of £17,104 o.s 3d; he balance brought forward from last year, ;ic,75.{ Is Sd—making together £33,857 Is lid ; eaving a stun, after payment of dividends and >ther appropriations, of amount brought, forward, 23310 ISs Id ; balance of net profit, £7690 2s (3d ; ojrether, £10.907 os7d. Your directors propose to appropriate this sum as follows(1) Payment of livideud of 7s ed per share on 15,001) fully paid-up hares, and 3s 0d per share on 13,743 half paid-up hares, together £8389 0s 3d ; (2) and to carry forward to next year, £2517 14s 4d—£10,007 Os 7d. The lividend, at the rate proposed, will give the sharetolders interest after the rate of 9} per cent, per .nnum on the capital actually employed in working he company. Mr. J. L. Wilson and lion. P. Dignan .re the retiring directors, but they offer themselves or re-election. Messrs. Board man and Wayinoutb, he retiring auditors, also oiler themselves for relection. The Dividend will be payable at tho comiany'B office on and after to-morrow. Auckland, nd February, 1891. . BALANCE-SHEET. The balance sheet, which was printed and n the hands of the shareholders, was taken is read. It was as follows :— STATEMENT OF ACCOUNTS, 31ST DECEMBER, 1890. Capital Account, 31st December, 1890. DR.—Freehold and leasehold land, buildings, naniifacturing and distributing plant and meters, tc, £185,372 15s 7il : total. £185,378 15s 7d. Cit.— 50,000 shares at £0 each, £250,000 ; paid-up apital on 15,500 shares at £5 each, £77,500; paid-up apitiil, sth issue, 13,743 shares, at £2 10s each, 134,357 105—£111,857 10s; premium on shares, 155,740 8s (id ; balance carried to general balanceheet, £17,771 17s Id : total, £180,372 15s 7d. Revenue Account, 31st December, 1890. Dr.—Coals, £11,995 4» 9d; stokers' wages, £2001 a 8d; purification of gas, £185 13s 3d ; distribution f gas, £701 0s 7d ; water, £13 19s 2d ; maintenance f works, renewals, etc., £1839 5s 7d; directors, 310 ; auditors, £35 ; salaries, £2327 5s ; stationery, 392 128 id; rent, £45 2s; petty cash, £43; rates nd taxes, £1240 10s; insurance, £55 :>s 7d ; legal xpenses, £1 19s ; bad and doubtful debts, £00 17s ; lterest, £120 17s 7il ; balance to not revenue ccount, £17, 0-. 3d : total, £38,442 Us 9<l. C'U.— £;«,;Sl4 Us lid ; residuals, £5115 9a lid; crip and transfer, £12 Os : total, £33,442 5s 9d. Net Revenue Account, 31sb December, 1890. Dr.--Dividend declared February, 1890, £9;>07 17s d ; dividend declared July, 1800, £9507 17n 9d— .19,015 15s(id ; amount added to reserve fund, £3934 a iod; balance of net profits transferred to general ;ilance sheet, £10,907 (Is 7d. Total, £33,857 la lid. CR.—Balance of net profits, 31st December, 1889, 10,763 is 8d; balance of revenue amount for the ear 1890, £17,101 Us 3d : total, £33,857 Is lid. General Balance-sheet, 31st December, 1890. Dr.—Bills payable, £230 1 (is 3d ; sundry trades, ion and others, £250 10s ; deposits as security for urrontaccounts, £705 18s (>d; cash on deposit for payient of calls and interest thereon, £6399 4s Id ; Rejrve fund, balance at credit, thereof, £16,759 15s Jd; renewal of meters account, balance at credit lercof, £3000; net revenue account, balance at l-edit thereof, £10,907 0s 7d : total, £38,313 14s od. Cu.—Stock of coal, shale, and residuals, £1360 9s I; .stock of gas fittings, including gas engines in ;ock and on hire, £5756 14s 3d ; horses and carts, 09 10s 8d; bills receivable, £109 Os id ; cash at lank of New Zealand. £3342 Its lid ; cash at short ill and interest, £5028 0s 9d ; debts owing to the Dinpany, £1571 18s 7d; investments on reserve fund ccount—27 debentures at £100 each, £2700 ; cash i Bank of New Zealand, fixed doposit, £300; ipital account, balance at debit thereof, £17,77417s 1 : total, £33,313 14s od. The Chairman said he thought the report nd balance-sheet, which were in their hands, ave a very clear arid lucid idea of the nancial state of the company. The directors egretted that the usual profit had not been 0 great as in previous years. There were wo causes for this. Tho first of these was lie reduction in the price of gas, but against hat there were the facts that during the two revious years the number of consumers had een lessening monthly, and the consumption _f gas showed a proportionate decrease ; but ince the reduction there had been an increase iontli by month in the number of consumers, nd it was clear that in time they would vertake the loss caused by the reduction in he price of gas,' The next cause of their loss ras the strike, Their policy had been to keep oing at any cost, . and they succeeded 1 doing so, but the'result was a loss of over 2000. Unfortunately, the dividend had not een earned this year, and the directors lioughtit a prudent course not to pay it, but here was a sum laid by as a balance. It 'as not there in its entirety, but it was proosed to take £739.3s 9d from it. It was nnecessary that he should detain them irther, and he should simply move the doption of the report and statement of ocounts.l : ' Mr. T. Peacock seconded the motion. After some discussion the motion was put ad carried unanimously. : .. DIRECTORS. On the motion of Mr. T. Peacock, seeded by Mr. Upton, Mr. P., Dignan was selected a director, and on the motion of [r. T. Buddle, seconded by Mr. Upton, [p. J. L. Wilson (the second retiriug direc>r) was also re-elected. ; : • ■:.'iJ' -; . AUDITORS. ' ! - :■•■'■■ ■ .-. '\ - On the motion of Mr. Nelson, seconded f Mr. Field, Mr. A. Boardmaa was re-

elected auditor, and on the' motion of Mr, Hirst, seconded by Mr. Leighton, Mr. Johr Way mouth was also re-elected auditors. . . ;■ NEW ZEALAND ACCIDENT INSUR- .. ANCE COMPANY. The eleventh annual meeting.of the shareholders of the New Zealand Accident In surance Company was held on the 30th oi January, at the company's offices, Victoria Arcade, Queen-street, Auckland, Mr. D. B, Cruickshank, chairman of directors, presiding. , The attendance of shareholders was larget than usual. Mr. P. A. Edmtston- (general manager] read the minutes of the last annual meeting, which were confirmed, after which the report and balance-sheet were read as follows :— The directors in submitting to the shareholders the annual balance-sheet and profit and loss account, regret the company's operations for 1890 have not been so satisfactory as during the past few years. After making provision for-all ascertained losses the balance to the credit of profit and loss account stands at £348 2s 7d, out of which the directors recommend the payment of a dividend at the rate of 12£ per cent, per annum, of which O.V per cent, has already been paid for the half-year ending 80th June last. The retiring directors are Messrs. Cruickshank and Battley, and being eligible they offer themselves for re-election. It will be the duty of the shareholders to elect two auditors for the ensuing year and to fix their remuneration. Messrs. John Wayinouth and Charles A. Jonas, the present auditors, offer themselves for re-election. The dividend will bo payable on ami after Monday, 2nd February. — For the Board of Directors, J). B. Cruicksuank, Chairman. Auckland, 2Cth January, 1891. The following is the statement of accounts :— Profit and Loss Account for tiir Year Ending 31st DECEMBER, 1890. Dr. £ s. d. Amount paid for compensation.. .. 10,870 11 3 Bonus policies .. 309 12 9 General expenses, > including rent, medical fees, advertising, etc., head office and sixteen branches and agencies , 3,998 16 4 Government tax .. .. „ .. 120 0 2 Bad debt .. „...._ 23 18 8 Balances • _ _ .. „ _ 318 2 .7 Total «....«.«. £15,731 7 9 Cr. - £, a . d. Balance from last year, £1,257 lf»s 10d; less dividend, .'{lst December, 18S9, £375; less dividend. 30th Juno, 1890, £312 105— 10s .. .. 570 5 10 Amount of netf premiums .. „ 14,342 12 8 Interest and transfer foes _ _ 818 9 8 Total ' .. .. £15,731 7 9 Balance-Sheet. Dr. £ s. (1. Capital account, 100,000 shares at £1, £100,000; less unallotted, £80,000.. 20,000 0 0 Reserve fund 5,000 0 0 Reinsurance fund 2,000 0 0 Contingent liabilities .. .. .. 1,000 0 0 Life members account and guarantee premiums account 5,304.18 9 Accounts owing by the company and unadjusted claims ~ .. „ 1,071 12 4 Profit and loss account _ „ 348 2 7 ' Total .......... £35,384 13 8 Cr. £ s. d Uncalled capital 011 20,000 allotted ' - shares at 15s 15,000 0 0 Special deposits with Colonial Governments in compliance with Lifo Assurance. Acts .. .. 10,000 0 0 Investments .. ... «. .. 5,911 0 0 Fixed deposits 3,000 0 0 Accrued interest .. .. .. 213 1% & Balances at brandies and agencies 002 9 11 Accounts owing to the company .. 130 2 3 Office furniture —head office and branches .. 2C2 2 C Cash in bank and on hand .. „ 175 12 8 ; Total £35,384 13 8 AVe have examined the above balance-sheet and profit and loss account, and compared them with the books, vouchers, and securities, and find them to bo correct. We are of opinion that the balancesheet is a full and fair balance-sheet, containing the particulars required by the Company's articles of association, and that it is properly drawn up, so as to exhibit a true and correct view of the state of the company's affairs. (Signed) J. Waymouth, 1 Auditors CiiAiiLKS A. Jonas, /Auditors. January 20th, 181)1. The Chairman proposed the adoption of the report and balance-sheet as read. Sir. J. Callnan seconded the motion, which was adopted. On the motion of Mr. J. TricNwitii, seconded by Mr. G. P. Pierce, Messrs. D. B. Cruickshank and F. Battley were reelected directors. The re-appointment of Messrs. J. Waymonth and 0. A. Jonas as auditors was proposed by Mr. Mason, and seconded by Mr. T. Buddle, and agreed to. BAY OP ISLANDS COAL COMPANY. The half-yearly meeting of the shareholders of the Bay of Islands Coal Company was held on February 2, at the company's office, Queen-street. Dr. Campbell, chairman of directors, presided. The following is the report of the directors — The directors have to report that the sales of coal for the past half-year have been 10,953 tons, being a decrease of 1800 tons as compared with those of the previous six months. This falling off in the output is entirely duo to the late untimely strike which prevailed throughout the colony, and in which this company was tor a while involved. In accordance with the previous report of your directors, the necessary steps were taken during the past half-year to re-adjust the value of the company's assets, and the capital having been reduced from £30,00!" to £3000, the difference —£27,000 — has been applied to writing off the following amounts, viz.: — From coal niinu lease, £2555; f loin land, £589 Us 7d; from buildings, £2787 7s 10d; from plant, £12,542 2a 10d; from permanent works, £8520 2s 9d. A prospecting lease of a block of freehold land adjacent to the colliery has been arranged for, and during the current year operations will be commenced with a view to determine whether coal exists therein or not. The statement of accounts appended hereto shows that after writing off £250 for depreciation of coal mine lease, the profit and loss account credit balance stands at £1754 Cs. From this amount the directors recommend that a dividend of 10s per share be declared, which is equivalent to five per cent, for the half-year on the original capital. This will absorb £15in>, and the directors propose to carry the balance, £251 Cs to the current half-year's working. The directors retiring by rotation are Dr. Campbell and Mr. Wilson, who, being eligible, offer themselves for ro-election. All auditor will also have to be appointed for the current year.—For the directors, J. Logan CAMPBELL, Chairman. Auckland, 20th January, 1891. The statement of accounts for.the half-year ending December 31st, is as follows :— BALANCE-SHEET. Liabilities.— Capital—3ooo shares of £1 each, £3000. Debts and Liabilities— orders issued, but not presented for payment, £471 is Id ; amount credited to Government for Royalty, £8083 2s ; debts due by the Company, £390 Us 3d. Profit and lossBalance, £1754 6s. Total, £13,699 0s 4d. ASSlSTS.—Property held by the Company—Lease of coal mine, £1800, (less depreciation, £250)—£1550 ; land, £1500 ; buildings, £1051 7s ; plant, £3303 14s S<l; permanent works, £1798 0s 2d; cash in Bank of New Zealand, £1522 10s 9d; cash in hand—head office and colliery, £20 12s; deposit at call, £500 ; debts due to the Company, £1077 6s 3d ; office furniture, £149 3h 8d ; goods and timber at colliery, £309 0s 10d; coal on hand at colliery and Opua, £251 ss. Total, 13.699 0s 4d. PROFIT AND LOSS ACCOUNT. Dr. —Winning coal, pumping expenses, stores, and labour, £4124 Is sd ; carriage of coal by rail, £1070 Us 7il ; forage, £103 7s 7d ; freight on goods, £42 3s id ; 'general charges and expenses, £363 (Is tod ; discount, £191 Is 8d ; royalty, £182 lls ; salaries, £400 ; lepreciation as per balance-sheet, £250 ; bad debt, 69 4s 7d ; balance, £1754 0s : total, £8490 17s 4d. Ck.—Balance profit and' loss account, June 30th, ISOO, £79 18s ; sales of 10,953 tons coal, £8294 9a 4d ; rent of cottages and land, £38 3s 0d; profit on stores and timber sold, and work done at colliery, £77 19s ; transfer fees, 7s 0d : total, £8490 17s 4d. ' The Chairman said : Having so lately addressed you on all matters connected with the mine, at the meetings held authorising the reduction of capital, I really have little to say to you on the present occasion. The report and balance-sneet speak for themselves, the only new features being, that after 1 lapse of two and α-half years, your directors feel warranted in recommending that the dividend named be paid, which will only make four dividends in nine years. You will notice that it is intended during the current pear to ascertain whether a workable seam if coal exists on a block of land adjacent to the mine, and I allude to it to allay any fears which might naturally arise in the minds of shareholders that possibly the expenditure In this direction might run into a sum which would materially encroach upon the.final payment which may be forthcoming. The expense of the boring operations will be kept lowii to a merely nominal amount. The nine manager reports that he estimates the taking out of the pillars will extend over a /ear from the present date. Whether the jnine will be finally closed then remains to be seen. We can only hope that some unforeseen better fortune awaits us,' but meanwhile we must face the eventuality, and jonduct our operations accordingly. With these remarks, I beg to move the adoption of the report and balance-sheet. : The motion was seconded by Mr. Peacock, ind adopted. Dr. Campbell and Mr. W. S. Wilson were unanimously re-elected directors, and Mr. Boardman auditor. TAUPIRI EXTENDED COAL COMt ;, : ,,/ ~ ~.P ANY.: ; ..•:/,,■/: The half-yearly general meetincr of the sharelolders of the Taupiri Extended Coal Mining Company (Limited) was held at ScherfFs Buildings on the 30th January. Mr. John Roberton presided, there being about twenty jentlemen present. • - The directors presented the balance-sheet or the half-year ending 31st December, 1890. Hie profit and loss account for that period, liter writing off 10 per cent, from the outitanding debts, and 5 per cent, for depreciation on the whole of the company's mining

property of £17,010 18s lOd— viz., £880 10 lid, showed a net profit of £890 5s lid. Th balance brought forward from last half-yea is £648 15s. 2d, giving a total of £1539 Is Id which the directors repom mended to b appropriated as follows :—£9oo to paymeo of a dividend of 9cl per share, tlie balanc of £639 Is Id to be carried forward to ne\ account. The mine and all the plant am machinery are in first class working ordei and the output for the last half-year ha exceeded that of the previous one by 200 tons. Mr. John Roberton, in moving the ador. tion of the report and balance-sheet, said tha they had passed successfully through stormy time. The only thing was that the , might have had a little more in the way of divi dend. Although things around them wer not altogether progressive, they had a gram future before them. Mr. Leighton seconded the adoption o the report and balance-sheet. He though great credit was due tc the directors for thei management. The retiring directors, Messrs. Johi Roberton and George Winstone, were reelected, as also was the auditor, Air. J Waymouth. DEVONPORT STEAM FERRY COMPANY. The tenth annual meeting of the Devon porb Steam Ferry Company was held or Feb. 18 at the Borough Council Chambers Devonport. Mr. E. W. Alison, chairmar of directors, presiding, and there was aboul 20 shareholders present. The secretarj read the report and balance-sheet as fol lows : — In presenting the tenth report and balance sheet, your directors heartily congratulate shareholders on the successful operations o the company during the past year, by wind they are enabled to recommend the payment of a dividend at the rate of 10 per cent.. after making full allowance for depreciation on steamers and plant. The profit and loss account shows a balance to credit of £2292 3s 6d, out of which your directors recommend the payment of a dividend at the rate of 1C per cent., which will absorb £1000, leaving £1292 3s 6d to be carried forward to profit and loss new account. Early in October of last year the p.s. Osprey was sold to Mrs. E. Douglas, of Helensville, on terms quite satisfactory to the company. No commission was paid upon the transaction. In accordance with the articles of association, one director, Mr. Lanigan, retires. It will, therefore, devolve on the meeting to elect one director. Mr. Lanigan does not offer himself for re-election. An auditor will also have to be appointed. Mr. Thos. Melville, who retires, offers himself for re-election. Balance-sheet 31st December, 1890. Dn. Liabilities. £ s. d. Capital nei-ount —lo,ooo shares at £1 10,000 0 0 Sundry creditors M 3.854 19 0 Unclaimed dividends «« .. _ 10 14 0 Heservu Fund ».«»«»«. 225 0 0 Balance — ...».._ 2,292 3 0 £10,412 17 0 Cr. Assets. £ s. d. Steamers and plant .. «. «. 13,800 0 0 Sundry debtors .. ... _ _ 2,31114 5 Bills receivable «..._.. 27S 10 3 Cash in hand _ _ .. _ 22 12 10 £10,412 17 0 Dr. profit axd γ-oss account. £ s. d. dividend 800 0 0 Balance ... .. .. „ „ 801 15 3 £I,OCI 15 3 tepairs, coal, wages, rent, wharfage, water, depreciation, i&c. .. .. 8,909 10 3 Balance .. „ „ „, .. 2,292 3 0 £11,'201 13 9 Cr. £ s. d. Balance (old account) „ _ _. £1,001 15 3 Balance down 801 15 3 Fares and freight*, transfer fees, advertising spaces, and profit 011 sale of Osprey.. .. „ .. „ 10,339 13 0 £11,201 13 9 The Chairman moved the adoption of tho report and balance-sheet, which was seconded by Mr. COLEMAN, and carried. Mr. Jamks Mays being the only member proposed to fill the vacancy in the directorate, the motion was put to the meeting and agreed to. An honorarium of £75 was voted to the directors. In regard to the sale of the p. 3. Osprey, Mr. Colkman moved, "That as no commission had been charged, the chairman be voted 100 guineas for his services in negotiating the sale." The motion was opposed by Messrs. Winter, Slator, and Edson, but it was carried, and the Chairman returned thanks, stating that it was well earned, for had it not been for the sale of the Osprey, the company would not be in the position which it now occupied. On the motion of Mr. Niccol, seconded by Mr. Edson, a vote of thanks was accorded to the employees and directors. AUCKLAND INSTITUTE. The annual meeting of the Auckland Institute was held on Feb. 16. Mr. James Stewart, president of the Institute, occupied the chair. The Secretary read the annual report, whfch showed that the number of members on the roll was 205. The total income for the past year was £S6l, and the expenditure £987, but there was still a balance in bank of £79. The report and statement of accounts wei - e adopted. Tho Rev. Dr. Purchas proposed the name of Professor Brown for president. He had previously held the office, and had taken a great interest in the Institute, and it would be a most suitable appointment. Mr. Mackechnie seconded the motion. Tho motion was agreed to. The Chairman announced that, in accordance with the rules, the vice-presidents for the ensuing year were Messrs. James Stewart and Josiali Martin. The three retiring members of the Council were Professor Brown, Mr. J, B. Russell, and the Rev. W. Tebbs, and the following gentlemen, Messrs. Edward Withy, Rev. J. Campbell, and the Rev. J. Bates, having been duly nominated to fill the vacancies, were unanimously elected. On the motion of Mr. Peacock, a vote of thanks was accorded to Mr. John Reid for his past services, and he was unanimously re-elected, Mr. Josiah Martin having seconded the motion. A vote of thanks to the president for his services during the past year was carried. A special general meeting was held, for the purpose of repealing, if thought fit, that portion of rule G, relating to tho payment of an entrance fee., The motion was then put and carried and the meeting terminated. BOARD OF CONCILIATION. The adjourned meeting of delegatesfr om the Employers' Association and representatives of the labour organisations, for the consideration of the question of forming a Board of Conciliation for the settlement of trade disputes, was held on February 16 ab Robson's Rooms, Queen-street. Mr. G. Aickin presided. At the previous adjournment there was a difference between the Trades and Labour Council and the Knights of Labour as to whether the two bodies should be represented on one board, or whether there should be two boards. It was now announced by the representatives of the Trades and Labour Council that that body stipulated that when any dispute calling for the intervention of the Board arose amongst the unions of which they were at the head, the delegates from the Knights of Labour on the Board should be only bona fide, wage-earners. If the dispute occurred among the ranks of the Knights of Labour, the latter could send whom they pleased an their representatives. These conditions were agreed to by the Knights of Labour. Mr. Ewington then moved, " That there shall be a Board of Conciliation, to be called tho Board of Conciliation for Auckland." This motion was seconded by Mr. Wright, and agreed to. The business of adopting rules was at once proceeded with, and Mr. Ewington moved, "Thab the Board consist of an equal number of employers and employed, to be elected by the Employers' Association and the trade organisations respectively." This was seconded by Mr. Dixon. Ifc was objected that the words "trade organisations" in the motion were too vague, and after a discussion, Mrv Nathan moved as an amendment, " That the following words be added, * the latter to consist ab first of an equal number of the Trades and Labour Council and the Knights of Labour, and later of delegates of such organisations as way be mutually agreed upon."j

9 This amendment was seconded by A e Turner, and agreed to. r It was also resolved, "That the Cha » man of such Board shall be appoint ? by a majority of members present, sui 0 Chairman to have a deliberative, but : y casting vote;" and the number of t 1 Board was fixed at twenty members—ti , representing employers and ten represei ing employees, twelve to form a quorum, six from each side." The next rule was one defining the ter " wage-earner." It was proposed follows :—" If any question shall arise to whether a person belongs to the body employers or the body of workt s, the sar shall be settled by the President of b; Employers' Association, the President the Trades and Labour Council, and t! Chief Worker of the Knights of Labou whose decision shall be final, according the following rule :—" An employe "is o: who is employed by another at a certa wage, and taken in its proper sense as b tween capital and labour, the term appli only to trade and manual employment, at could not include any of the following : The professions, master tradesmen (whic shall mean masters in any capacity, wheth employers of labour or otherwise, as lor as occupying the position of being the own masters), and clerks to any person > firm carrying on business. Provided th when the Knights of Labour have grievance, they are at liberty to send wh representatives they please to the Board Conciliation ; bub that when the grievani is on the part of the Trades and Labo Council, representatives from the Knigh of Labour shall be only such as are i eluded in the above definition." The motion was eventually carried, an the meeting then adjourned. The rules were further considered at meeting held on Feb. 23 and finally adopte< GOLD MINING COMPANIES. Saxojt Gold Mining Company (Limited The annual meeting of the Saxon Gol Mining Company was held- on January 2! at the Insurance Buildings. There was good attendance of shareholders, and M Charles Alexander, chairman of director: presided. The directors' report was read, as ah the balance-sheet, which is as follows :— Balance-siif.et op the Saxon Gold Mining Co; i'any (Limited) for Year ending 10th Januau 1891. RECEIPTS £ s. d. £ s. ■ To Cash balance last balance-sheet .. 094 17 „ Gold, G9130z ldwt. melted gold.. .. 19,309 911 , Tailings ... _ 2 15 3 ~ Use of pans „ ,«, 1 10 0 19,313 15 £19,908 12 EXPENDITURE. Mine Account— £, a. d. & s. > By Wages and contracts IO.GSO 15 1 „ Mine requisites .. 1,089 18 0 ~ Draiu'Ke contribution 9:55 0 0 ~ Timber and coal .. 651 2 3 „ Carting .. .. 347 10 2 „ Foundry work .. 82 0 0 ~ Gas, water, & licenses 93 10 8 14,338 2 Battery Account— „ Wages.. .. _ 1,209 19 4 „ Battery requisites ... 443 19 11 ~ Water supply _ '203 0 8 „ Foundry work ~, 246 8 9 „ Timber.. „ — 38 13 4 „ Insurance •. «. 11 5 0 2,213 13 Office Account— ~ Salaries, survey, and law expenses .. 109 15 0 „ Beard fees and travelling expenses .. 76 4 0 ~ Property tax .. .. 59 2 3 ~ Advertising, printing, and miscellaneous... 33 2 8 ■ 278 3 ] Plant Account— ~ 2 Watson and Denny pans*. M 372 4 Dividend— „ 2 Dividends ofGd per share on 50,000 shares ... M _ 2,500 0 „ Cash balance M „ „ e 208 8 ] £19,908 12 Pkqfit and Loss Account. Dr. £ s. d. fi s. i To Expenditure as above on mine, battery, and office accounts 16,527 19 1 ~ Sundry accounts due 837 19 8 17,065 IS 9 Less due last year's accounts.. ... 31 10 3 —————— 17 8 Balance profit for year i,'e79 G £19,313 15 Cβ. £ s. d. £ s. c By Gold, 69130z ldwt «. 19,309 911 „ Tailings ... «. 2 15 3 „ Use of pans «. — 1 10 0 £19,313 15 Liabilities. ■• £ s. d. £ s. t To Sundry creditors _ 837 19 Balance „ „ 13,765 10 £14,003 10 Assets. £ a. d. £ s. (1 By Casli balance _ 203 8 1 „ Freehold .« •„ 547 7 6 ~ Mining plant.. _ 1.7G8 1 C „ Battery plant .. 1,80112 0 ~ Interest in drainage pumps .. .. 280 0 0 „ Estimated value of mine .. „ _ 10,000 0 0 14,395 1 £14,G03 10 Capital Account. £ s. d. & S. d To 50,000 shares of 10s each ... .. 25,000 0 ' £ B. d. & s. d By 2s Cd per share paid up on (5000 shares ab formation of Co. .. 750 0 0 „ Is 10d per share called up on 44,000 shares 4 033 C S 4.753 6 : „ 7s 6d per share uncalled on OCOO shares 2,250 0 0 „ 8s 2d per share uncalled on 44,000 shares ... „ 17,906 13 4 _ 20,216 13 ■ Correct. £25,000 0 ( January 17,1891. T. A. MENZIES, Auditor. The motion for the adoption of th< balance-sheet was carried unanimously. On the motion of Mr. A. Porter, th< retiring directors, Messrs. Kissling anc Frater, were re-elected, and Mr. T. A Menzies was re-elected auditor. Mr. Bkodie moved a hearty vote o thanks to their secretary, Mr. MacDonnell for the clear and explicit manner in whicl he placed the affairs of the company befon them, and coupled with it a vote of con dolence and sympathy with Mr. Dunlop or his recent illness. The motion was seconded by Mr. Alex ander, and carried unanimously. Try Fluke Gold Mining Company. The annual meeting of the shareholders ol the Try Fluke G.M. Company was held on Jan. 30, at the office of the manager, Mr. H. Gilfillan, Queen-street. Mr. James Frater chairman of directors, presided. The Manager (Mr. H. Gilfillan) read the directors' report, and also the statement of accounts: — Profit and Loss Account for the Year ending december 31, 1890. DR.—Mine expenditure: Wages, £1525 10s lid ; sundry supplies and expenses, £288 5s 10d; crushing trial parcels of ore, £20 7a Gd; cartage of ore, £108 13s 9<l: total, £2243 Is Bd. Battery expenditure : Wages, £7G115s 3d; sundry supplies, and expenses, £235 5s Od; firewood, £241 19s 2d: total, £1238 19s 10d. General expenses : Purchase of water right, £40; property tax, £44 10s Sd; insurance, £29 10s 4d; iron safe, £10; rents, survey, &c, £42 12s; advertising, printing, and stationery, £15 2s 9d; salaries, travelling, and other expenses, £271 9s 6d: total, £453 5s 3d. Dividends, £3750; depreciation in plant, £300; balance, £2419 7s 2d. Grand total, £10,410 10s 3d Cr.—399Bozl3d\vt melted gold, obtained from 204 C tons quartz, £10,410 10s 3d. Balance-sheet for the Year ending December 31ST, 1890 Liabilities.—Capital—so,ooo shares of 5s each subscribed, £12,500 ; less uncalled capital, 4s 6d pet share on 50,000 shares, £11,250—£1250; debts due by the company, £141 19s 8d; profit and loss, balance, £2,419 7s 2d: total, £3811 6s 10d. Assets.—Battery,"tramway, and buildings, £2615 8s 8d ; cash in Bank of New Zealand, £1195 7s 9d ; cash in hand, 10s sd: total, £3811 6s 10d. The report and balance-sheet were adopted, Messrs. A. Smith and J. Frater were reelected directors, and Mr. C. A. Jonas was re-appointed auditor. Leopold.—The firsb general meeting oi the Leopold Gold Mining Company was held ab noon on Feb. 5 in the Insurance Buildings, Mr. S. T. George presiding. The business was of a formal character. The old directors, Messrs. S. T. George, C. C. McMillan, W. S. Wilson, J. Dickey, and R. Spratt, were re-elected. Alfred.—Mr. S. T. George presided ab the firsb general meeting of the Alfred Gold Mining Company, held ab noon on Feb. 5 in the Insurance Buildings. Messrs. S. T. George, C. C. McMillan, J. McFarlane, J. Dickey, and A. Kidd were re-elected directors. The proceedings were of a routine nature. KaAOTONr/.— The annual statutory meebing of the Kuaotunu Gold Mining Company was held on Feb. 9 ab the New Zealand Insurance Company's Buildings. Mr. H. M, Shepherd presided. The follow-

Ir. ing directors were re-elected :—Messrs. H. ; M. Shepherd, E. Foster, W. Bailey, A. L. ir- Wilson, and A. Kidd. : ed Just-In-Time. — The adjourned ordinary >h meeting of this company was held at its office 10 on Feb. 2, ; After the reading of the mine [Jβ manager s report of the operations now in »n P.. rores3 which was of a highly satisfactory ', character, and also the statement of accounts ' " the meeting proceeded to the election of 0 directors, when Messrs. J. M. Cameron, W. : Hellaby, J. Endean, D. H. McPherson and m H. C. Hanchard were appointed. as • ■ ■:. : ———__ —— ■■■■■!»■ : as ! The annual meeting of the Thames School ™ of Mines was held on February 3. There [* e was a fair attendance of subsciibers and the ie , general public. Mr. Jas. McGowan, presior dent, presided. The annual report stated ie , that the attendance at the various classes *"' during the year had been in excess of the 0 previous years, and the annual examination ? e of students had been very satisfactory. in The following were , the ; officers elected e ' for the ensuing President, Dr. Wile Hams ; vice-presidents, Messrs. H. W. _ Moore and J. H. Smith; treasurer, Mr. J. T~ Watson ; committee, Messrs. G. T. Clark, In G. H. Bull, T. A. Dunlop, P. Hansen, Jas. er McGowan. The presentation of prizes to 'M the successful students was made by Dr. lr Williams, the newly appointed president, D £ whose election is a very popular one. 1C The annual meeting of the Auckland • Workingmen's Club was held on Jan. 30, a £ the President, Mr. P. Dignan, occupying °* the chair. The report and balance-sheet, 36 which were of a satisfactory character, * r were received and adopted. Mr. P. Digts nan was elected president of the club, M°. n * W. Marshall, vice-president, and Mr. T. , (}. Owen, treasurer. The following gentlemen were elected a committee of manage- • ment for the ensuing year:—Messrs. H. H. a Hoffman, D. Hyauiason, C. M. Borthwicfc, *• T. C. Owen, J. P. King, J. P. and W. \ Priestly. The usual vote of thanks were accorded to the president, officers, and committee, and a special vote of thanks was ). accorded to Mr. Eastwood for his services ( to the club and the house committee during $ ( the past year. a A meeting of those interested in the conj. struction of a bridge across the Waitemata 3 " River was held on February 25 at the Auckland Harbour Board Buildings. Dr. Laishley , 0 was appointed chairman. Mr. Napier, the . convener of the meeting, made a statement ' , pointing out the importance of the work, r, and its probable cost. A committee, comprising the chairman, Messrs. Napier, Oil* , phant, Dufaur, O'Neill, F. Quick, Shepherd, ■ Terry, Greaves, George, and Captain Slafc-.-'■'■ 4 tery, were appointed to get all possible information with respect to the proposed bridge, and report to a future meeting. .'_.. A meeting of volunteer officers was held at 2 the Drillshed on February 23, for the pur-. ~ poseof hearing Colonel Carre on a newsehease which he proposed for the reorganisation of 1. the defence forces of New Zealand, Lieut. Colonel Shepherd in command of tha< Auckland Volunteer district presided. The annual meeting of the New Zealand District Board of the H. A. C. B. Society was opened on the 25th of February, aft 9 the Catholic Institute, Wellington -s*reefc, Brother S. Fairweather, D.P., in the chair. The annual report showed thab there had been during the year an increase of £326 5s 6d, the credit balance of which now stood at £2278. The amount paid for sick claims during the year was £860, and. for medical attendance and medicine £850 had been, expended. . ' At the annual meeting of the Westporb Coal Company at Dunedin, the retiring directors, the Hon. J. Miller and P. C. Neill, were re-elected. In answer to a question the chairman said he estimated the loss to the miners through the strike , 7 amounted to £30,000. : , On February 11, immediately after the 0 session of the Jubilee "Pioneer Assembly 0 of the Knights of Labour, a meeting of - delegates from the various local assem--0 blies was held to form the district as--1 sembly. Brother C. S. Wright presided. . Brother F. Walker was elected secretary pro tern. After some preliminary business had been transacted, the officers were elected with the following result:— District Master Workman, R. French; District Foreman, J. Stallworthy ; District c Recording Secretary and Financial Secre--8 tary, F. Walker ; treasurer, J. T. B. Dines - statistician, T. Clark. The District Master--2 Workman returned thanks for his election, '• and appointed the following brethren to the various offices;— W. Turner, Districb - Inspector; F. Molloy, Inside Esquire 2 R. Salmon, Outside Esquire; H. W. g Dixon, Venerable Sage. A committee 8 was appointed to prepare bylaws and - submib them to the various local 1 branches prior to the next meeting of the • Assembly. Considerable business of a private nature was transacted, after which the name of the Assembly was considered. It was unanimously decided that ib be called the Auckland Districb Assembly, The Assembly then adjourned for a month. / On February 13 an adjourned meeting 5 of those interested in the formation of a I fish exporting company was held at Rob-, son's Rooms. There were about a} dozen . people present, and Mr. James Dixon was j voted to the chair. Captain Pryor was elected secretary pro tern. The prospects • of the proposed company were debated ab considerable length. Ib was resolved, "That a company be formed for the puppose of going into the fish, game, and 5 poultry freezing and exporting industry." It was also agreed, "that the company be styled • The New Zealand Co-operative Frozen Fish, Game," and Poultry Exporting Company. , " Ib was likewise decided i "That those present resolve themselves o j into a company for the purpose of carrying out the ideas before mentioned." About a dozen gentlemen gave in their names and 1 subscribed towards the preliminary expenses. A committee of five, consisting of ' Messrs. Dixon, Irwin, Ford, Lander, and D. Holland, were appointed to make ex« ' haustive inquiries into the fishing industry^,, . and report to the next meeting. The forty-ninth half-yearly meeting of ' the New Zealand District Council, I. 0.R., J was held on February 10, in the New- ' market Hall at six o'clock. There were present: R. French, D.C.R., who presided, 1 J. M. Barr, D.D.R., J. G. Carr, D.Sec, E. J. Carr, P.D.C.R., Geo. Kent, D!G., and representatives from six adulb Tents and two juveniles. The whole of the report) read showed that there had been an increase . of the funds, which now total £6970 63 2d, or an average per member of £17 3a 9Jd, ae against an average per member on July 31 «* la"st of £15 10s 9d. . " The annual meeting of the Auckland Club was held on February 10, when a very satisfactory balance-sheet was submitted to ■ • the members. The gentlemen retiring from the committee were re-elected, as was also the auditor. : r , . A representative meeting at Dunedin oJ Freethinkers, Sir R. Stout presiding:, passed a resolution of sorrow at the news of Mr. Bradlaugh's death, of affectionate sympathy with his daughter, and of deep regret at the irreparable loss the i'reethought and radical r party have sustained. : , '• At the annual meeting of the Wellington Gas Company on Monday, February 2, the Chairman stated that the company had been seriously affected by the strike, and had been driven to the extremity of obtain- - ing coal from Newcastle, bub that coal, foe "'; gas-making purposes, was inferior to the West Coast Coal. The usual dividend was declared, but the company were not in a position to carry anything forward. The annual.meeting of the Lyttelton Harbour Board was held on Feb. 4. The secretary's report showed that the receipts for the year had been £55,548, including £10,292 credit balance from lasb year. The expen- . diture and outstanding - liabilities werel ' £28,994, leaving a surplus of £26,554. The estimated revenue this year is £26,730, and the expenditure £25,492, leaving a surplus of £1238, exclusive .of the ; present surplus. The assets are £477,747, and the liabilities, including £200,000 loan, £201,218. :, Since dredging was begun - 2,833,950 cubic yards of . material have been removed, at an average cost for ten years of 6d per yard. The Graving Dock account showed a credit of £248. The Sailors'. Home had sheltered 245 men, as against j 196 the previous, year, and the Board had only to contribute £80, as against £150. The chairman stated thab the accumulated sinking fund amounted to £15,954. The Board had now apparently no other alternative than to go to law with the Railway Commissioners, who persisted in retaining possession of No. 5 storage shed, notwithstanding thab they had no funds to pay ft? Ib, nor. were likely -to. obtain any.