ESTHONIA'S FLEET.
Esthonia is another country which- has been trying to operate a State merchant fleet, and has found difficulty in doing so, says the "Shipping World." The fleet is composed chiefly of sailing ships engaged in coasting traffic, find in the first years after the establishment of the Republic proved a remunerative asset, occupying as it did a privileged position as compared with private shipping companies in that it paid neither dues nor interest. Since the depressiou in freights, however, it has been running, at a loss, and it ia now proposed to transform its management. ■ The State Navigation Bureau would welcome a. joint stock company with a capital of 150 millions of Esthonitin marks. Tho Stnto would be the promoter of the company, and woujd have the right to cede one-half of the shares to private holders. This schemo appears to be somewhat similar to that adopted by the Australian Government, and may ultimately, as in the latter case, lead up to tho disposal of the fleet to private owners.
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Evening Post, Volume CX, Issue 34, 8 August 1925, Page 24
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172ESTHONIA'S FLEET. Evening Post, Volume CX, Issue 34, 8 August 1925, Page 24
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