ANGLO-COLONIAL NOTES.

Otago Daily Times, Issue 13985, 19 August 1907, Page 6

ANGLO-COLONIAL NOTES.

(Fhou Oub Own Correspondent.) LONDON, July 5.

It was monlioned in tho report of tho City of Wellington Electric Light and Power Company that, in view of threatened opposition by the Wellington Corporation, Mr H. E. Salt, a director, visited Wellington at. the request of the directors at the end of last year to come to an understanding with tho Wellington Corporation. Tho result of the negotiations was that the corporation agreed to purchase the company's undertakings and to take over the management from July 31 this year. The report is made up for tho year ended December 31, 1906, and it show's a balance at the credit of profit and loss account of £12,886 (including «So 6' brought forward from last account), after paying interest on tho debentures, dividends on the preference shares and cxpences, Out of this balanc an interim dividend at the rate of 8 per cent, per annum for the half-year endod June 30, 1906, ha* been paid during the current year to. ordinary shareholders, absorbing the sum of £1390. The directors now recommend the payment of a final dividend on the ordinary shares at tho rate of 22 per cent, per annum for tho half-year ended December 31, 1906 (making 15 per cent, for flio year), and writing off £5000 from goodwill. This will absorb a further sum of £8822 and leave a balance of £2673 to be carried forward to the next year's account.

It. is the intention of the Union Steam Ship Company to build a new express passenger steamer for tho Vancouver service. Tho new steamer will 'be considerably larger than the latest Union boat, the s.s. Ma-rauia., which was launched a. few days ago. _ Sir _ Janes Mills was occupied during his visit to Glasgow this week in revising the plans for the new vessel. In the House, of Commons yesterday, replying to Mr W. Redmond, Mr Winston Churchill said that on the receipt of an address from both Houses of the New 'Zealand Legislature, praying that the stvie of tho colony may be altered to "Dominion of New Zealand," his Majesty will be advised to give effect to the request by means of an Order-in-Council and proclamation. Sir Gilbert Parker inquired: "Will tie right lion, gentleman state in what material way the status of a dominion is different from that of.a colony?"

Mr Winston Churchill replied: "I think no actual legal or material consequence will follow; but the colony of New Zealand greatly desires to acquire this new siyle, and we have felt it our duty to meet its wishes."