HALF YEARLY MEETING OF THE N.Z.S.N. COMPANY. (From the " New Zealand Spectator." April 16.)

The half-yearly meeting of the shareholders of the New Zealand Steam Navigation Company was held on" Thursday afternoon at the Wel lington Athenaeum to receive the report of the Directors and for the transaction of other business. There was a full attendance of Shareholders. The Chairman briefly explained the objects of the meeting and called on Mr. Duncan, the Manager, to read the

Third Half-ytarly Audit Report of the Next- Zealand Steam Navigation Company {Limited.) In the Balance Sheet now presented, when shows the state of the Company's affairs on the 29th day of February last, the only item that requires explanation from me is that of "Pre liminary Expenses." These expenses had all been written off in previous balances, and were of course borne exclusively by first series shareholders, but ss the second series derive their full share of benefit from them, a small sum has thus been written back, in order to ad just the matter between their respective in terests. From the profits of this half year it will be observed that the whole of the expense con nected with the extension of Capital has been deducted, besides £70 for depreciation of Stock, •nd I would recommend that a further sum should be written off for that purpose out of the undivided profits of this half year. I have only to add that' the Balance Sheet now before you is a full and fair one, properly drawn up, so as to 1 exhibit a true and correct view of the Company's affairs, and that your Chairman has ever been ready to give me any information or explanation which I have had occasion to call for. John Yule, Auditor. Wellington, 13th April, 1864. The Chairman then said, the report having been duly proposed and seconded, was now fairly before the meeting, hat hefore putting the question that it be adopted, he was pre pared to answer any questions shareholders might wish to put. In answer to a question from Mr. G. Allen, The Chairman said the repairs of the Lady Bird had not been charged in the half-year accounts ; some portion should be charged to the dehit of capital account, as the value of the vessel had been considerably increased by the expenses incurred. Mr. 