AUSTRALIAN TRADE
SHIPPING CO.’S REPORT IMPROVED CONDITIONS ! (Klee. Tel. Copyright—-United Press Assn.) j (Received November 28, 2 p.m.) j LONDON. Nov. 27. Tho Peninsular and Oriental Com-; panv’s report shows that £1,364,426 was provided for depreciation of the fleet on a 5 per cent, basis, of which £656,970. was taken from reserve for the redenip- j tion of debentures freed by the new ( issue. Therefore, tlm net depreciation charged to the year’s earnings was £707.456.
Referring to Australian trade, the report says conditions in Australia continue, to improve with an increase in the volume of exports and tho rationalisation of tonnage, with the result that homewards tonnage is more remuneratively employed. Exports to Australia are still at a low ebb, but- are showing some expansion. Passenger traffic is indifferent, hut it is hoped that improved trade will result in homeward bookings.
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Bibliographic details
Poverty Bay Herald, Volume LX, Issue 18257, 28 November 1933, Page 6
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141AUSTRALIAN TRADE Poverty Bay Herald, Volume LX, Issue 18257, 28 November 1933, Page 6
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