NEW ZEALAND SHIPPING COMPANY.

Timaru Herald, Volume XXXIX, Issue 2766, 4 August 1883, Page 2

NEW ZEALAND SHIPPING COMPANY.

The following is the tenth annual report of the Directors of the New Zealand Shipping Company, to be presented at the genera meeting to be held ou August 14tli : — Your Directors have pleasure m submitting the following report : — The business of the Company has been conducted dnrmg the past year with satisfactory results. The Company's ships have been kept m the nsnal high state of efficiency Your Directors regret having to report the total loS3 of the Waitara, with 26 lives, by a collision m the English Channel with the Huronm. The latter vessel did not snstain serions damage, and after docking for repairs resumed her voyage to Port Chalmers The' City of Perth has been added to the Company a fleet of sailing vessels. Direot Steam.— Following the policy mdi. cated at tho last general meeting of shareholders, your Directors have entered into a contract with the celebrated firm of Messrs John Elder and Co., of Glasgow, to builc three steamers, each of 4000 tons gross register, With a sea-going speed of 12 knots. The steamers are being built of steel, aro of tho highest class, and wUI bo m every way a credit to the Company. All tho vessels aro now far advanced ; the first will bo launched during the present month, and is appointed to leave England for tho colony m Ootobor next Pending the completion of the Company's vessels, your Directors m January last established a monthly direct line of steamers, comprising: the White Star Liners lonio and Doric, the Cunard Liner Catalonia, and the British Shipowners' Company's British King and British Queen, all of whioh are new vessols built within tho last two years, and the most suitablo tho Company could charter. These steamers have all mado successful passages, especially the lonic, which vessel accomplished the voyage from Plymouth to Wellington m 43 days 22 hours, and, considering tne short timo the service has been established,, your Directors are well pleased with the support they have received from Dasnengers and shippers, and with the results and fntnro prospects of the Company. Refrigeration. — The carriage of frozen meat your Directors believe, will form a most important element m the future trade of tho Colony, and space has been reserved for large shipments m the steamers now under charter to tha Company, and also m those m course of construction. The insurance account has met tho demand mado on it occasioned by tho loss of the Waitara, and now stands at JSoOdl 15s 5d