A DEFICIT TRANSFORMED

Rangitikei Advocate and Manawatu Argus, Volume XLV, Issue 11931, 29 October 1919, Page 5

A DEFICIT TRANSFORMED

UnitedfPress Association —By - Elec trie Telegraph—Copyright.

Received Oct. 39, 9 a.m. London, Oct. 35.

The Daily Express says that the Ministry of Shipping’s revised estimates show that the estimated deficiency for the current financial year of a million and a half has been converted to a profit of fiftyfive millions. This lias been accomplished by soiling Governmentowned ships built or acquired during the last three years at more than double the price paid, t and thatjby the trading of Government ships at extortionate freights, while charging an enormous price for ships, the Ministry helps profiteering in freights by profiteering in ship values.