Northern Times.
Liverpool, Merseyside, England, 1857-12-03 00:00:00

AFRICAN STEAM-SHIP COMPANY.

The half-yearly general meeting of the shareholders in
this company was held at the offices in Mincing-lane,
London, on Tuesday, Mr. P. D. lladow in the chair. The
report contained the following statements : —Toe company's
steamer Niger was totally lost at Santa Cruz, Teneriffe,
on her fifth homeward voyage from the coast, on the
night of the loch of June last. This vessel was insured
' for .E 20,000, eighty par cent. of which has been paid,
and the balance is in course of settlement by the
underwriters It being necessary to replace the Niga-,
in order to carry out the mail service efficiently,
the directors have made an offer for a suitable vessel
of 1,140 tons, new measurement, lately employed in
the Transport Service (steject to approval after examina-
tion and trial,) which has been accepted. In conformity
with a resolution passed at the last meeting of proprietors,
au'horising the directors to take such steps as might be
necessary to obtain from Government an increase of the
subsidy for the performance of the African mail service—a
proposal has been made, and is now before the proper
authorities for the modification of that contract. A charge
for depreciation of 6 per cent. per annum on original first
cost of ship, has been made against the revenue account, in
conformity with the provisions of the deed of settlement ;
this has,.since the formation of the Company, been accumu-
lating, and on the 31st October last (after deducting
1,911/. 81. 21., proportion belonging to the Niger,)
amounted to the sum of 17 8-111. Is. si. This sum has
been transferred to credit of fi-st cost of ships, and in
future, the deduc'ion will be made half-yearly. The
directors have mulh pleasure in announcing to the pro-
prietors that the half-yearly operations have been
satisfactory; their anticipaions of the advantages of
Liverpool over London as the port of departure for
the mail steamers, have been fully realised. By the
exercise of rigid economy, the loss on the revenue account
incurred before the vessels were removed to Liverpool,
has been recovered, and the balance remains, sufficient
to pay a dividend of 53. pr share, free of income tax. The
Chairman, in moving the adoption of the report, congratu-
lated the shareholders on the improved condition of the
affairs of the company as compared with their condition on
the occasion of their last meeting. In reply to a share-
holder, the Chairman stated that the new vessel would be
called the Armenian, and was to cost £16,000. The
report was unanimously adopted ; and the dividend, as
.recommended in the report, was agreed to. A vote of
thanks to the chairman elosed the proceedings.

ACCIDENT TO THE RIGHT HON, E. H)RSMAN.—The
member for Stroud is well known to be an ardent lover of
the chase, and is a bold and fearless rider. We understand
that on Monday last, as the hon. gentl_man was preparing
to mount h;s hcrse, he walked him a few paces before
getting into the saddle. The reins were loossly slung
over his arm, when the animal making a sudden swerve;
Mr. Horsman was flung to the ground with great violence,
and upon rising it was found that he had sustained a frac-
ture of the right arm between the elbow and the shoulder.
Surgical attendance was immediately procured, and we are
informed that the case is progressing very favourably, so
that in all probability the hon. gentleman wig be enabled
shortly to resume his senatorial duties.--S(roud Journal.