ORIENT COMPANY'S YEAR
Mr. Irvine C. Geddes, chairman of tho Orient Steam Navigation Company, Ltd., who presided at the company's annual meeting in London, pointed out that earnings were down and expenses up. v- , ~ The Abyssinian campaign, he said, had affected the passenger earnings, and war-risk premiums had decreased cargoes. Australian exporters naturally liked to take last-minute advantage of market fluctuations, but the postponement of shipments involved waste, which the shipper must eventually bear. The shin owners would provide Australian exports with a movable platform, providing for fluctuations in volume, but they .must not afterwards be blamed for the consequent waste of space. Accurate Australian forecasting of transport requirements would economise freights. The company's justifiable restoration of pay cuts, and the change-over to the tourist class had also increased, expenses. As this had been an exceptionally bad year for the dividend on ordinary shares, the employment of reserves to equalise results had been decided upon. Next year's indications were better.
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Evening Post, Volume CXXII, Issue 149, 21 December 1936, Page 16
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160ORIENT COMPANY'S YEAR Evening Post, Volume CXXII, Issue 149, 21 December 1936, Page 16
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