HEAVY LOSSES
British Shipbuilding Concerns YBSTBY‘3 ISSUES THREE MILLIONS NEW CAPITAL [By Electric Cable —Copyright.] [Aust. and N.Z. Cable Association.] (Received Monday, 8.15 p.m.) LONDON, June 22. About eight millions of new issues were made this morning including 3,200,000 preference, Union Cold Storage (Vestey’s) shares for the purpose of repaying loans and providing further working capital. The Beardmore Shipping Company reports a nett loss for the year, after the payment of debenture interest ol I £503,000. No allowance was made for depreciation of machinery, but a dividend on preference shares was passed The Workman, Clark company’s loss for year, including debenture interest not yet paid is £182,000 making total deficit of £2,571,925. The directors state it is only possible to keep yards partially open by making contracts at prices showing a small margin. Cash in hand totalled only £892.
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Bibliographic details
Manawatu Times, Volume XLIX, Issue 2714, 23 June 1925, Page 7
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139HEAVY LOSSES Manawatu Times, Volume XLIX, Issue 2714, 23 June 1925, Page 7
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