NO DIVIDEND.
A STEAMSHIP COMPANY'S
LOSSES
DUE TO INCREASED WAGES AND
DECREASED HOURS
MELBOURNE, Sept. 6
At the half-yearly meeting of the Australian Steamships, Ltd., yesterday the chairman regretted that the figures did not warrant a dividend. The six months' working of the company had resulted in a loss. Other shipowning companies were like themselves. He was surprised at the recent large increase of "expenditure in the coastal trade, which was due to the increase in wages and the decrease in the number of Working hours of employees. To make up a portion of this drift some of the freight rates had been increased in July, and probably further increases would be forced upon the company.
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Bibliographic details
Northern Advocate, 6 September 1913, Page 5
Word Count
116NO DIVIDEND. Northern Advocate, 6 September 1913, Page 5
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