BARROW NAVIGATION COMPANY
The half-yearly meeting of the above company was held at the Munster Bank, Castle-street, Dublin, on the 12th inst. The chair was taken by
JOHN BARLOW, Esq, Deputy Chairman.
The SECRETARY read the report of the directors and statement of accounts for the half-year ending the 30th June last.
The CHAIRMAN, in moving that the report of the directors and statement of accounts be adopted by the meeting, congratulated the proprietors on the very prosperous state of the affairs of the company, and on the very handsome dividend, at the rate of 6 per cent on the capital stock of the company, which the board were enabled to recommend on the present occasion, and which was the same rate as had been declared on previous half-yearly meetings.
The dividend amounted to the sum of £1,800, and would be paid to the proprietors on or after the 26th instant. The net profit on the working of the navigation for the past half-year was £1,917 12s 6d, which, when carried to the profit and loss account, made the balance of that account in favour of the company £5,086 13s 6d.
The sum of £300 had been paid for the renewal and thorough repairs of one of the company’s steamers during the past half-year, which had been charged to the profit and loss account. The whole plant of the company, consisting of two steamers and 41 barges, was in excellent order and it must be satisfactory to the proprietors that the entire cost of this plant, as well as of the 62 horses required for the haulage of the boats, amounting to upwards of £12,000, had been defrayed out of revenue; the works of the company were in good preservation, and during the past half-year the banks and trackways had received large and useful repairs; the navigation was in a sound and prosperous condition; and there was every prospect that this satisfactory state of affairs would continue, for the advantage of the proprietors.
The report of the directors and statement of accounts were adopted by the meeting, and a dividend declared on the capital stock of the company at the rate of 6 per cent per annum, payable on and after the 26th instant.
A vote of thanks was given to the chairman and the board for their attention to the affairs of the company, and the meeting then separated.
Dublin Evening Mail 16 October 1871