SHIPMASTERS' WAR GAINS.

Auckland Star, Volume XLVII, Issue 19, 22 January 1916, Page 9

SHIPMASTERS' WAR GAINS.

XIST FOR THE ' ■':'- - . CHANCELLOR. ' ::;, KEOORD DIVIDENDS AND 55 PER GENT MORE PROFITS. (From the London "Daily Chronicle.") In View of the increased cost of supplies of all sorts, and the high freightage rates now being charged" by. shipping 'concerns for all vessels that'liave not been commandeered' by the Government, ithe immense profits of shipowners since the war began are of special interest, not only to the Chancellor of the Exchequer, but.also the.community at large. Some idea of the great increase which has occurred in the'e'arnings of shipping , companies can be obtained from the. table below, in which the results, of the most prosperous concerns which make up their accounts to March 31 or later arc given:—' '--•■.

The combine! gross profits for the first season set forth above amount to nearly three and a quarter, millions, as compared with a little over two millions in the- preceding year, an increase of over 55 per cent. life rate of increase, however, varies greatly, for several undertakings liavo doubled, trebled, or even quadrupled their revenue. BIG SUMS FOR RESERVE. A number of them, though many have been in existence for 20 years or more, are paying the highest dividends they nave" eVbr'deelifedi'andihie'whilst prudently making extra allowance for depreciation and sotting aside liberal gams to reserve. Some, indeed, iw-vjng previously distributed good dividends, have elected to allocate all extja revenue to writing down ossete or to strengthen roeerve; funds in lieu of increasing the return to the shareholders. •: A..' phase of the matter' which the general public would do well to keep on eye. on is tho rate at'which one-ship companies are now being created , . Tho call for tonnage is so acute that all sorts of.craft arc being pressed' , into service, :^&¥ m^Sn^rr D ?i^i t rßrV float wiU ' •Mw.-lho iwno Ixnng , something. .'' ""■ y '' Tr'Tcyin '- Speculators, tberefpre, tod it easy to get-holi of Iwats, riiany ofujwhich had bejai >baddoh<!d.{pr ically serious ■wtjfk,' and etari them' as remunerative undertneinge) capitalised far beyond their intrinsic trorth. '- rV-i;'

~ Something like, ecyenty cosrpanies, with a nominal capital of one arid , tbiee-qnarter-'millions, have-been formed this year to run,ships more or lose on theao Unee, and though they arb not all necessarily enspect, inveetors should lie chary pi Bnpporting them—they will only bo asked to do so privately—for -they cannot foe adequately .proteqted by insurance, and'when the boont ends they will certainly ho left stranded..

Gross Profits. Ora. Div. 1914-5. 191S-4. 1914-5.1913-4 £ £ . p.c. p.c. ■Booth Steam- 225,300 151,800 „ 10. jNil .Century Ship— 117,000 52,500 .. 22J 10 Dene Ship 24,100 12,400 „ 10 4 Empire Trans. 186,000 108,300 ., 10 10 Furness, Witty 674,000 634,500 _ 10 10 Haln. Steam... 315;700 143,100 _ 20 10 ■. Heiton (T.) and Co 18,700 4,500 ,- 10 Nil Jones (VT. and C. T.) Steam 00,000 54,700 ..10 5 I>aml)ert Bros. 143,500 T5,800 ..20 10 MamJiestev Liners 203,900 107,500 .. 15 G Mitre 'Ship:... 47,400 28,100 .. 12$ NU Nautilus Steam 81,200 (51,800 .. 124 10 Nitrate Producers ...~ 151,900 136,000 _17J 12} Prince Line.., 374,100 12S.300 „ 10 5 IPyinnn Steam. 120,300 96,000 ..20 10 Kowland & Marwood's Steam 84,400 60,000 — 20 20 Scholefleld j Steam. 40,900 20,700 _ 20 21 Suthcrlniid Steam. 100,900 C9,600 .. 20 15 Tatem Steam N'av. -i 203,700 120,700 _ 15 13