Holds worth as to the cost and working of the Maim- Jcau, The Chairman said he believed the vessel would prove a profitable purchase, if not she would be sold. He would observe that the cost of coals this half-year in consequence of this purchase had been much less than that of the previous half-year. After some further discussion the report was put and unanimously adopted. Mr. G. Hart in proposing the names of three Directors for election said that two of the retiring Directors, Messrs. Bannatyne and Joseph were now in England, and as they would probably be absent twelve months it might be thought advisable to elect Directors who were on the spot. He would propose the names of Messrs. Dransfield, Levin, and Lyon. He proposed Mr. Levin, as he thought the share holders would be glad to acknowledge the ser vices rendered by thatsgentfeman by the trouble he had taken*' in 'superintending the building of the Wellington. Mr. Woodward seconded the resolution. Mr. Levin expressed his readiness to serve if elected, but thought it right to state that in a few days be should be acting as the agent of another line of steamers whose interests might perhaps interfere with those of the Company. Mr. Moss proposed, seconded by Mr. Yates, Mr. G. H. Vennell.- Mr. Marriott proposed, seconded by Mr. Vennell, the name of Mr. G. Hartmann. On a show of hands Messrs. Dransfield, Levin, and Lvon were declared to be elected. A poll warthen demanded, and the Chair man decided that tke polling should take place at the next special general meeting to take place on the 19th May. Mr. J. Dransfield proposed— That the Directors are hereby empowered to insert in the Memorandum of Association, a clause giving fhem power to borrow money by the issue of deben tures or otherwise, inch sum or sums not to exceed one fourth of the paid-up oapita). Seconded by Mr., Taylor, and carried unanimously. ' Mr. Woodward in proposing Mr. Yule as Auditor said, that as a large portion of the work devolved on that gentleman he thought it would be unfair to ask him to continue his services at so small a remuneration. The Ghajbkan bore testimony to Mr. Yale's effioWg^ apd thought unless he was paid at the tUfa of £9ft) a year he could hardly be eipjatal.to continue to act. 