SHIPPING

Greymouth Evening Star, 11 October 1934, Page 8

SHIPPING

HIGH WATER—OCTOBER, 1934

(Note: These figures have been advanced by 30 minutes, to conform with Summertime).

DEPTH OF THE BAR The depth of the bar and river at high water yesterday was: —Bar, 27ft 6ins; river, 22ft 6ins. ARRIVED October 11. —Kartigi, s.s., 1167 tons (Briscoe), 10.50 a.m., from Westport. SAILED October 11.—Titoki, s.s., 247 tons (Wahlstrom), 10.30 a.m., for Tarakohq. IN PORT Abel Tasman, Karepo, Kartigi. EXPECTED ARRIVALS Alexander, Westport, to-morrow. Kini, Dunedin, to-morrow. Kanna, Auckland, Monday. Te Arolia, Wellington, early. PROJECTED DEPARTURES. Karepo, Melbourne, to-morrow. Kartigi, Gisborne, to-morrow. Abel Tasman, Sydney, Saturday. Alexander, Petone, early. Kini, Miramar, early. Kanna, Sydney, early. SHIPPING NOTES. The Titoki sailed this morning for Tarakohe with coal. The Alexander is due to-morrow from Westport, to load timber for Petone, Miramar and Wellington.

The Te Aroha is due about the end of the week from Wellington. The Karepo is to sail at noon to-mor-row, for Melbourne and Adelaide. The Kini, which left Dunedin on Tuesday evening, is due to-morrow to load for Miramar and Wellington. The Kanna is due on Monday from Auckland, to load timber for Sydney and Newcastle.

The Kartigi arrived this morning from Westport, to load for Gisborne and Auckland. She is to sail to-mor-row.

The Abel Tasman is to sail on Saturday, with timber for Sydney and Newcastle.

The Union Steam Ship Company advise that the berthing lists for the steamer express service between Lyttelton and Wellington for December and January are now. OTHER PORTS. MELBOURNE, October 11. Arrived, Waitaki, from Bluff. WELLINGTON, October 10. Sailed: Gael, for Greymouth; Te Arolia, for Hokitika. AUCKLAND, October 10. Sailed: Kanua, for Greymouth.

COMPANY’S HEAVY LOSSES.

LONDON, October 9.

The Royal Mail Steam Packet’s annual report states that the deficiency account of the company, which stood at £9,011,562 in 1932, had increased by the end of 1933 to £11,505,114. The increased deficiency was owing, firstly, to a guarantee given to the bankers of an associated Company for £495,001. Secondly, to a transfer to the deficiency account of £1,449,999 in respect to the value of the company’s investments in a major subsidiary company, which investments the directors were satisfied, were valueless, this, accordingly reducing the nominal value to £l, and an amount was required also to reduce the value of another investment in a major subsidiary to £300,000, which investment it was expected, would be received after the liquidation of the latter company. Thirdly, it was due to nieeting a further £325,000’ in respect of the White Star Coy. preference dividends. The Directors again emphasised that the Deficiency Account merely represents those losses which it is possible to assess, and that it does not cover tho whole of the losses, guarantees and investments. These also state that there is no provision for a possible liability respecting a guarantee of five million preference capital of the White Star Coy., and of the dividends thereon, although there is every prospect of a claim being made for a guarantee. The report adds that, including the steamer it has sold, the Royal Mail Lines earned £409,812 last year, all of this being applied to depreciation. The year provided little normal revenue from the shipping investments.

October il0.10 a.m.; 0.29 p.m. October ia— 0.30 a.m.; 0.49 p.m. October 13— 1.10 a.m.; 1.30 p.m. October 14— 1.53 a.m.; 2.20 p.m. October 15— 2.50 a.m.; 3.19 p.m. October 16— 3.50 a.m.; 4.25 p.m. October 17— 5.15 a.m.; 5.50 p.m.