THE THAMES RIVER STEAM NAVIGATION COMPANY.

Thames Advertiser, Volume XIV, Issue 4133, 19 January 1882, Page 3

THE THAMES RIVER STEAM NAVIGATION COMPANY.

FIRST ANNUAL MEETING. . A well-attended meeting of the share-, holders in this companywosheldinthe company's office, Albert-street, last evening. In the unavoidable absence of the Chairman of the Company, Mr James Marshall was voted to the chair. ■■■ The Secretary, Mr Hume, then read the following report and balance-sheet: - , In presenting the First Annual Balanco Sheet of your Company's Business, the Directors wish to point out that the business of the Company has only extended over a period of eight months, viz,, from May to December. Your Company was first formed with a Capital of £3,200, in 640 Shares of £5 each, in December, 1880, of which 485 shares were taken up, and arrangements entered into with Messrs. Price Bros, to build an Iron Steamer suitable for the up-river trade. On the withdrawal of tho North Shore Ferry Go.'s steamer "Te Aroha," it wasifound one steamor was not sufficient for the trade, and the s,s. " Vivid" was chartered from June to September, when it was considered desirable your Company should have a second steamer. In September the Capital of your Company was increased up to £10,000 by tho issue of now Shares, and the value of the samo altered to £1, and negotiations entered into to purchase the p.s." Te Aroha, ,, which was effected at a cost of £1,700. As only £2,834 has been received on account of shares, your directors have had to 'leave a mortgage on the "Te Aroha" ;of £1,000, and.mako themselves liable for amount of bank overdraft. Instructions have been issued to reduce the largo sum due by your agents. In' consequence of the increase of settlement beyond To your Directors were desirous of providing steamer accommodation for tho same, and offered premiums for tho best designs for a suitable boat. Elevon models and specifications have been received, and a of_ competent persons appointed to. adjudicate upon them. As soon as the trade warrants it, and the shares of tho Company are taken up by investors, your Directors will tako steps to supply a most suitable boat for this extension of the Company's trade. From tho Balanco Sheet you will see that from various causes incidental to the formation of a new company the expenses have been large; theeo preliminary and other expenses have been paid off. No sum has' been written off for depreciation in value, on your steamers, as over £200 has been' expended on same Thop.s. "Patiki ,, has had to lay up for repairs from time to, time. Thop.s, "To Aroha" is found to bo very suitable, and gives great satisfaction.—W. Wilkinson Chairman.—Thames, January 18,1882. ' , Tho following was tho balance-sheot presented: ..

* D , r ' To 9 a P^UO,OOO/; Bank of Now, Zealandß3422aßd;mortgage on"To Aroha" 1,000? j unpaid accounts, 44? 11 8 8d; deposit account, 1002; proflfc and loans account Wl 6s lid.—Total, Iβ 3d. Cw un! called capital; 7,1662 ; p,s, "Patiki," 2,2202;

less sale of" Ruby," 174/ 4a; 2,015? 16s; ropairs and additions, 178/ 14s ld,-2,224/ 10s id; p.e. "'TeAroha," 1,700/; repairs and additions 39/ 1451d.—1,739/ 14s Id; unpaid calls, 75/; duo by agents, 840/0s 7d; due by charterers. &0., 15/ 6s 6d; Bank of New Zealand Ko, 2 account, 100/j do, Ko. 3 account, 55/; coal on band (88J tons) 107/ 10s.-Total, 12,323 Is 3d.-Profit and loss account. »To preliminary expenses,' formatio i of company, and books, 72/ 6s 7d j advertising and printing, 102/ 12a 6d; general expenses, supplies, interest, ko,, 371/ Hβ; freights and harbour dues, 279/ 193 9d; commission, 236/ 14b : wages, 756/ lie 9d; coala, 504/ 17s 2d j balance to nowaocount, 344/ 6s lid.— Total, 2,668/193 Bd. By passage money and charters, 1.008/ 10a Id; freights, 1,552/ 19s 7d; coal on hand, Ml 10s.— Total, 2,608/ 19s Bd. Assets and liabilities.—P.a, "Patiki," 2,224/ 10s Id; vs. "Te Aroha," 1,739/ 14s Id;' coals on hand (86 tons) 107/ lOs; due by company's agonts 840/ 0s 7d; unpaid accounts, 15/ 6s 6d; due on 2nd call, 75/; Bank of New Zealand No. 2 account, 100/; do. No. 3 account, 55/.— Total, 5,157/ Is 3d. 2,785 II paid up shares, 2,785/; paid on 2801/ ehares, 49/; Bank, of Nesv Zealand, 834/ 2s 8d; mortgago on "Tβ Aroha" steamer, 1,000/; outstanding accounts 44/ 11s 8d ; deposit account 100/; balanco to profit and loss, 344/ 6s lid.— Total, 5,157/ Is 3d. -Albx. Humbj Secretary, Examined and found correct-Hy.. C. Gillespik, D. R. Gbllion, Auditors.

Dr Kilgour proposed that tho balance* sheet and nport be adopted. The motion boingeeconded by Mr Wilkea, wae put to the meeting and carried. Messrs Sinith, Wilkinson, and Marshall were re-appointed directors] and Messrs H. C. Gillcspio ahd D. R. Gellion appointed auditors. The proceedings, which seemed to give general satisfaction to the shareholders present, were brought' to a close by a hearty vote of thanks to the Chairman.