p.3 Here & There - sch. Acacia loading barley at foot of Princess street, to go to Oswego in spring.
A Vessel Sold - This morning at 10 o'clock the schooner Eureka was sold at Hutcheson's auction rooms, in consequence of the foreclosure of a mortgage. The vessel brought $1,300, Capt. W. Dandy being the purchaser.
Shipbuilding Operations - Mr. R. Davis has two barges upon the stocks. One will be propelled by steam, the other will be her consort. They are intended for the river trade. Mr. Davis has kept fourteen men constantly employed during the winter and hopes to have his present contracts completed about the 1st of April.
The Maud's Improvements - Everybody will be interested in the improvements which are to be made to the steamer Maud. She will come out in the Spring looking better than ever. Among the changes will be the raising of the wheelhouse and the arrangement of the bow deck so that those occupying it upon excursions will have more room and be protected from the sun by an awning.
R. & O. N. Co.
Annual Meeting And The Report Read Of It.
The annual report of the Directors of the Richelieu and Ontario Navigation Company was distributed to the shareholders today. The total receipts for the year 1882 were $504,226, as against $492,976 in 1881; the disbursements $418,420 as against $460,293 in 1881. The profits for the year amounted to $85,806 which, added to the reserve of last year, $33,109, and the sum realized from the sale of the steamer L'Assomption, amount to $122,166. From this has to be deducted two semi-annual dividends of 2 per cent, equal to $95,350, leaving a balance of $26,776 to be carried forward to next year. An interesting tabular statement is given, showing the receipts and expenses of the steamers Trois Rivieres and Bohemian , since 1875 up to last year, from which it appears that the Trois Rivieres has made losses every year, averaging $5,000 per annum, up to last year, when she earned the handsome sum of $9,182. In the case of the Bohemian, she also lost every year during the same period, exclusive of 1879, when she earned $3,190, while last year she made over $5,000.
The assets and liabilities of the Company remain the same as last year, viz.; $1,645,774, from which, however, is to be deducted $5,000, the estimated value of the steamer L'Assomption, disposed of.
The report states that a number of reforms have been inaugurated, and in future it is proposed to adopt the European plan or carte a tout heure on board the steamers similar to that followed by the Fall River and New York and Hudson River boats. A thorough system of checking the baggage will also be inaugurated. Numerous alterations have taken place in the Upper Canada boats, the most important being the consumption of coal instead of wood, which in itself is a great saving. The passenger accommodation in all the steamers frequented by tourists has also been improved, and altogether the directors expect a prosperous future for the Company.
From the list of shareholders it appears that the President, Mr. Senecal, holds 559 shares, the Estate of the late President, Sir Hugh Allan, only holding 18 shares, whilst nearly 6,000 shares are held by banks and brokers.
Feb. 15, 1883