COMMONWEALTH SHIPPING LINE.
Mr Hughes last- week defended the Government shipping line. The net profit for the five years ending June 30 last- was, he said, £3,290,965. There was a net gain, after allowing for the writing down of the whole capital cost, of £1,660,387. At the end of the year the Commonwealth fleet comprised 11 of the original Australs, 10 steamers built in Australia, 17 enemy steamers, and 5 “Bay” class steamers. Apart from the direct profit, the greater part of the moijey spent in operating the steamers had been put info circulation in Australia. With four mpre ‘Bay’ 1 ’ steamers to come, the Commonwealth lino would give a service that would ho prompt, regular, and rapid.
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Bibliographic details
Poverty Bay Herald, Volume XLVIII, Issue 15748, 13 February 1922, Page 5
Word Count
118COMMONWEALTH SHIPPING LINE. Poverty Bay Herald, Volume XLVIII, Issue 15748, 13 February 1922, Page 5
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