THE ORIENT COMPANY.
PROFIT OF £254,574. LIABILITY UNDER MAIL CONTRACT. By Electric Telegraph.—Copyright. Australian-New Zealand Cable Association, LONDON, Doc. 20. The Orient Steamship Company’s profit for tho year was £254.574. A deferred dividend of 15 per cent. free of incomo tax was declared, £150,000 carried to the. reserve fund, and; £63,911 carried forward. Tho annual report states that the amounts received froiji tho Government for steamers lost while in its employ are inadequate to provide for substitutes. The Company, therefore, is increasing the capital by inviting shareholders to subscribe two new shares for each one held. The company has been legally advised that the n.ail contract of 1907 has boon frustrated bv the war, but the Government has not assented-to this view, though with--out legal prejudice negotiations are in progress for a provisional arrangement.
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Bibliographic details
Manawatu Standard, Volume XLIII, Issue 1708, 24 December 1919, Page 5
Word Count
134THE ORIENT COMPANY. Manawatu Standard, Volume XLIII, Issue 1708, 24 December 1919, Page 5
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