P. & O. SHARES AGAIN ACTIVE

Dominion, Volume 12, Issue 215, 5 June 1919, Page 5

P. & O. SHARES AGAIN ACTIVE

« v BIG SHIPPING OPERATIONS RUMOURED. , London, May 22 (delayed). P. and 0. deferred shares are quoted at .£445. There is a general advaneo in the price of shipping shares, which is attributed to a British syndicate's purchase of 850,000 tons of the International Mercantile Marine fleet. , It is rumoured here that the Peninsular and Oriental Company is connected with the transaction.—Aus.-N.i!. Cablo Assn. (Eec. June 4, 11.25 p.m.) London, May 23 (delayed). P. and O. shares are at .£450.~-Aue.-N.Z. Cable Assu. [The International Mercantile Marine was organised by the late Mr. Pierpont Morgan, hence its name, the Morgan Combine. It was then called the International Navigation Co., but its name was changed to that it now bears in 1902. 'Che company is the proprietor of the entire share capital of the American, Red Star, White Star, Dominion, Lcyland, and Atlantic Transport lines. It is interested, too, in the Shnw, Savill, and Albion Line, because half the" shares in that line are held 'by the White Star Line. A few weeks ago it was proposed that the United States Shipping Board should buy out the vessels of the' Whits Star, Leyland, Atlantic Transport, and Dominion fleets belonging to the Internaional Mercantile Marino for approximately ,625,000,000. This proposal could not be given effect to because it was found that the United States Government had no power to purchase the vessels, which had never lost their British nationality, and could not do so without the consent of the British Government. The last report of the International Mercantile Marino at hand is that for December 31, 1017. It shows tliat the net earnings of the company for 1917, compared with 1911, were 18,838,888 dollars, as against 17,792,304 dollars. - Interest, 1917, 2,362,S4O dollars; 13W...*,485,575 dollars; balance, 1917, 16,476,017 dollars; 1914, 3,306,028 dollars.' There was .a profit of 12,171,541 dollars for 1917, and a deficit of 302,528 dollars for 1914. Tho war mado a difference, for tho net profits of 1915 were 13,581,660 dollars; for 1916, 26.259.596 dollars. The International fleet- at December 31,1917, was 98 ships of 914,141 tons gross, and 171,050 building. Tho'fleet has since then been depleted by enemy action.] . .