SHIPPING

Poverty Bay Herald, Volume LX, Issue 18253, 23 November 1933, Page 5

SHIPPING

PORT OF GISBORNE ARRIVALS Thursday, November 23. Margaret \Y., m.s., 6.20 a.in., 094 Lons, .1. It. Owen, from Auckland. Waimea, s.s., 6.30 a.in., 504 tons, A. E. Inman, from Auckland. I’ukeko, m.s., 9.10 a.in., 736 tons, S. Jones, from Auckland, via Coast buys. The Waimea arrived from Auckland this morning. She expected to complete discharge and sail tins afternoon tor Napier. . The Poulta- is to load for Napier and Gisborne, leaving Bluff on Monday next, workimv Dunedin on Tuesday, Oamaru nd 'LTinaru on Wednesday, Lyttelton on Thursday, thence Wellington. The vessel is due at Gisborne again about Tuesday. December 5. The Titoki, which is loading loi Napier, Gisborne, and Tauranga, left Timavu yesterday, leaves Lyttelton today. and Wellington on Saturday, the vessel is due at Gisborne on Tuesday The Federal Line steamer Cumberland is due at Gisborne from Napier on Monday next to load frozen meat, butler, wool and general cargo for London and west cor;, ports of the United Kingdom The G. and 1). Line steamer Port 11 nun completes her Homeward loading at Tokomaru Bay to-night and sails for Auckland. She sails from the lustmentioned port on November 30 foi London, via Panama. The Margaret W. arrived at 6.20 a.ill. to-day with cargo from Auckland. After discharge and loading the vessel sailed for Tolaga Bay, Tokomaru Bay and Auckland" On Monday she will f load coal at the lastmentioned port for Tokomaru Bay. She is due at Gisborne again on November 30 to load stock and general cargo for Westport. The Pukeko arrived this morning from Auckland, via the Coast. The vessel sailed later for Napier and Auckland. At the northern port she will load on Monday and Tuesday for the Coast, Gisborne and Napier. The Awaken is due here to-morrow morning from Wellington and Napiei. Alter working this port the vessel will sail for Lyttelton, to commence loading cargo on Monday. The Tiroa, on completion of the lightering of the Port Huon at Tokomaru Bay, is to sail late, to-night for Auckland, where she will load on Tuesday in place of the Margaret, W for Coast hays and Gisborne. The Karoro is to return to Gisborne to-morrow from Tokomaru Bay. The Australian agents for the Kokusni Steamship Company are in receipt ol advice giving particulars of this fivm factivity in extending its fleet. A building campaign was recently brought into operation whereby a fleet of particularly fast steamers of 6490 gross tonnage would be constructed for this company, principally for the carriage, of valuable silk freights, etc., from Japanese ports to the United States. The fleet of new steamers is practically olf one model. It is interesting to note that all the vessels. inclusive of the Diesel engines, are being built exclusively in -Japan. The tourist season is now in lull swing and vessels arriving from England arc carrying a comparatively large number of passengers. A feature of the passenger lists recently, both from England and Australia, has been the small number of third class passengers. The recently instituted tourist class is probably largely responsible for this falling away in the third class lists, hat not entirely so. The feature of the Raiigitane’s list is the largo number of lirsl class passengers, who account for nearly half the lull list, while most of I he remainder are in the tonrisl Hass. Cabin class travel is also proving popular, and has, in the service from New Zealand lo England via the Panama Canal, completely ousted second class, not one vessel now having accommodation for this class. Considerable diiliculty is being met with in getting together scrap-metal for the Japanese vessels now on the coast. The Meiko Mam left Wellington on Monday for Lyttelton and Dunedin to eon tome discharge of her Australian hardwood cargo. She will not now load scrap-metal in New Zealand, hut will proceed to Australia from Dunedin for loading. The Nankwa Morn, which lias been loading scrap around the New Zealand coastline, will leave Port Chalmers to-day for Wellington, where she will take cargo at first intended for both ships. She will probably sail on Friday lot Japan. Advice received by the Napier Harbor Board yesterday from the New Zealand \lcat Producers’ Board, stated that, in "tumid to the Harbor Board s recent representations concerning the berthage at the breakwater of vessels which could do so. the Meat Board had decided to take no action. HUGE SHIPPING LOSS The directors of the Royal Mail Steam Packet Company announce a deficiency of £11,710,030 for 1932, against which the balance of the reserve account _ hat been transferred, leaving a net deficiency of £9.011,000.

In their report, the directors emphasise that the deficiency represents hisses thus far assessable. It cannot be regarded as covering the whole losses, mainly in relation to investments and guarantees, which may result owing to a shrinkage in the value of many of them, particularly those in the five major subsidiary companies appearing] in the balance-sheet at, (15,926,000, which can only he a small portion of such book value. I lie losses, without taking into account tile shrinkages in values referred to, exceed the issued paid-up preference and ordinary capital, amounting to .tO.BCO.OCO, which must he regarded as lost. la 1931 the company showed a debit balance of £95,174, and the debit balance carried forward was £659,879. Of the issued capital of £8,800,000, there is £3,800.000 preference. SHIPPING TELEGRAMS McllKiumc. —Nov. 23 : Arrived, Golden Cross, from Auckland ; Nolisement, from Bluff. Sydney.—Nov. 23: Arrived, Kalingo. from (Ireymoiitii ; at Newcastle, Karetu, from Now Zealand.