COMMONWEALTH FLEET
AGAIN CHANGES HANDS
SOLD TO NEW COMPANY
United Press Association—By Electric- Telegraph—Copyright. CANBERRA, March 16. The former Commonwealth ships, including five Bay liners and the Fordsdale, repossessed from the White Star Line, have now been sold to a new British company which is being formed for £500,000 cash, which frill be applied in reduction of the outstanding liability..- There will be still owing to the Commonwealth £614,872 on account of principal and about £47,000 for interest.
The Prime Minister (Mr. J. A. Lyons), making this announcement in the House of Representatives today, said that the price which the new company was paying represented the present market value of the vessels. The Govornmeut had already collected £205,118 insurance on the wrecked Ferndale.
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Bibliographic details
Evening Post, Volume CXV, Issue 64, 17 March 1933, Page 7
Word Count
123COMMONWEALTH FLEET Evening Post, Volume CXV, Issue 64, 17 March 1933, Page 7
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