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NORTHERN STEAMSHIP COMPANY OF AUCKLAND.

SPECIAL MEETING. OF SHARE- , \* HOLDERS. ; ;; [from ourown correspondent.] . / ' ;• London, July 12. Taking advantage of a visit to Scotland of Mr. • Charles Ranson, manager, and Mr. George Gow, superintendent/ engineer of the Northern \ Steamship Company, : Auckland, a meeting of Scottish shareholders was convened in Dowcll's Rooms, Edinburgh, on the 4th inst. The meeting, which was fairly representative, was presided over by Mr. James Fleming.

'The Chairman briefly introduced Mr. Hanson to the meeting. He : gave L au'interesting account _ of the ; company's doings since i his ' connection with it 14- years ago ;*> explained ■ its workings, its progress sin recent years, the value of-tlio property and the additions made ;to it' without adding to the capital. It was i also mentioned by Mr. Ranson that while the average cost of the fleet was £34 per ton, it was now; written down to £18 : 18s, ; and that. the company now owned 28 vessels, with a total tonnage ; of« 6000 i tons. Ho also . stated that the , company Stood in high repute in the colony, and, as an evidence, he had received a cable message from Auckland that, of the new issue of shares, 37,630 had been applied for in Auckland, and that Messrs. Buchanan, and; Stevenson, the Home agents, had also received ; applications for a considerable number. V Mr. Hanson also stated that it was desirable that the capital should be increased, as the business necessitated an addition ; to• the fleet, and the directors decided to: make the addi-: tion in the form spoken of in the circular. Altogether, Mr. Hanson staled, the company was in a sound financial position, and, while not present to make a speech, the ; shareholders could rest assured that .their ; interests were well looked after, and; he would be glad to give explanations ' or answer any questions that might be put. When leaving Auckland his directors suggested that ho might endeavour to meet the Home shareholders, and he had great pleasure in being present that day. t-; ! t, ■■ Sir: Andrew Muir expressed the pleasure : he had in hearing what' Mr. Hanson had J said, 5 and referred to the speech which the : chairman had made at the annual, meeting in regard to the falling off in ,the traffic. , Mr. Hanson explained that did not mean an actual loss of trade, but a falling off compared with altered circumstances. Last 1 year : they*, had .a; visit • from the Imperial s ; troons, also a Royal visit, and the return and despatch of colonial troops. ;On that account they reduced their ,fares';".and gave special facilities for travelling, and carried a larger number of passengers .at . the reduced rates. The fares were again raised, j and, with the traffic in its' normal condition,"the returns should be as before, but, of course, with possibly a less number travelling: thanon'the occasion to which he referred. Questions were asked as to the call on the ''■ 7s -share's, and it was explained that these shares must remain a3 they are; and as to a Stock Exchange quotation and Home & register, this was a matter;that had been, gone into by tho Board, and would be considered again as the Home agent had got further information on : the' question. ~lt was further explained that the company's trade was principally to the mining and agricultural districts, and a large tourist traffic to,Whaiigarei, est'.' Coast and other , trades, and iit was on the former route that they required a new vessel for this service. ; . ' ■', A number of shareholders, who are. also shareholders in the Union Company, i asked several \ questions, *:• and "i were informed ; that satisfactory .i running ' arrangements <!:- existed with that company. •;''" -- ■■ - -■"•■''.- " -;" i Mr. Fleming complimented Mr. Hanson on the able; manner in winch he had man-, aged tho ': affairs of the company. Being an. old shareholder he swell remembered ;r its early difficulties and I troubles, and ? its s - success within recent ', years was a great gratification to him, and tho balance-sheets iho looked through with: great: interest. In' regard to Sir Andrew Muir's remarks referring to the chairman's speech; he looked upon these as the i utterances of a straightforward and honourable man, and he thought, the shareholders had every reason to be satisfied that their interests were in such hands. _He had been well repaid in coming from Glasgow to hear what Mr. Hanson had, said; They: had now seen that gentleman, and they knew the work he had done, and the shareholders should be complimented- on having such an able and devoted manager. And if the directors were imbued with the same spirit, as he had no doubt they were, the future of the company would be m every respect successful. He had great pleasure in, v moving a hearty vote of thanks to Mr. KanSir Andrew Muir seconded the motion, which was carried unanimously. • ; ■■. In returning thanks, Mr. ; Ranson paid a high compliment to the chairman, Captain H. F. Anderson, and spoke of ,him; as one of the most straightforward and honourable men of ■ the colony/ and said that ' the other directors were held in equally high esteem. He assured the shareholders that it was a great pleasure to work with such gentlemen. The company had no, doubt had its troubles,; ,but ? these P had now been got over, and the future looked bright in every respect, : and it was = his .aim and intention, as long +as he was connected with it, to do his, best to pro, mote, the company's interests. ;: .^ a '„:„J The proceedings then closed in the usual

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Bibliographic details

NORTHERN STEAMSHIP COMPANY OF AUCKLAND., New Zealand Herald, Volume XXXIX, Issue 12043, 13 August 1902

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NORTHERN STEAMSHIP COMPANY OF AUCKLAND. New Zealand Herald, Volume XXXIX, Issue 12043, 13 August 1902

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