NOT FAIRLY TREATED
BRITISH SHIP OWNERS
(Rec. 10 a.m.) LONDON, June 15
Merchant ship owners are not getting a square deal from the British Government, according to Lord Milford and his co-directors of the Court Line. They claim that when their |hips were requisitioned the hire rates were intended to provide 5 per cent, depreciation, plus 5 per cent, interest on capital. The actual profits last year were only 52 per cent, of the ships' basic value.
The earnings, which wex-e £82,000, were down £71,000 compared-with the previous year. > Cash on hand, plus securities, was nearly doubled at £1,400,000. This reflected the ship losses due to the war.
The directors claim that these resources are not sufficient to replace all the lost ships at present prices.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/EP19420616.2.58.8
Bibliographic details
Evening Post, Volume CXXXIII, Issue 140, 16 June 1942, Page 5
Word Count
126NOT FAIRLY TREATED Evening Post, Volume CXXXIII, Issue 140, 16 June 1942, Page 5
Using This Item
Stuff Ltd is the copyright owner for the Evening Post. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.