STEAMER FARES
MODIFICATION OF CUTS. RESULTS ON ATLANTIC LINES. FALLING PASSENGER TRAFFIC. (United Press Association—By Electric Telegraph.—Copyright.) Received November 26, 12.20 p.m. LONDON, Nov. 25. The Atlantic Shipping Conference has decided not to continue fully the heavy cuts announced in April last and has agreed to a 6 per oent. increase in first and second class fares. The reduced fares have failed materially to increase the passenger traffic, causing several members of the conference to threaten to resign. The decision is generally acceptaole. SHIPPING EARNINGS. The London Daily Telegraph, commenting on the P. and O. Company, and the Orient Steam Navigation Co., Ltd., passing dividends, says: —“Ih e fall in shipping earnings through the decline in the volume of international trade, and the failure of freight rates to show a substantial recovery, was a foregone conclusion. P. and O. deferred stock touched 15s fid, after the announcement. The fine dividend record of this leading line has, unfortunately, been broken, but it can be assumed that prudence determined the board’s decision.”
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https://paperspast.natlib.govt.nz/newspapers/MS19321126.2.95
Bibliographic details
Manawatu Standard, Volume LII, Issue 308, 26 November 1932, Page 7
Word Count
170STEAMER FARES Manawatu Standard, Volume LII, Issue 308, 26 November 1932, Page 7
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