TRADE WITH THE EAST.

Taranaki Daily News, 3 July 1924, Page 8

TRADE WITH THE EAST.

AUSTRALIAN. VENTURE UNPROFITABLE. In view of the trade service with tile East recently inaugurated by the Nsw Zealand Government, a statement last week by the Australian Prime Minister (Mr. Bruce), to the effect that the Australian Government’s venture in the East was proving unprofitable, is interesting. Mr. Bruce stated that the first steamer to engage in the trade left Melbourne at the end of 1919, and a regular three-weekly service was inaugurated at the beginning of 14)2]. The average number of ships engaged in the Java trade since the inauguration of the regular service had been three vessels. The revenue and expenditure in conenction with this service from the date of first sailing to the time the Shipping Board took over control, ha.l been as follows: Revenue, £548,907, expenditure £644,258. Included in the revenue were the earnings of these ships when they were engaged in the Nauru- A suartailandcoaatls g Nauru-Australia and coastal trades. The Shipping Board had relinquished the Singapore-Java trade upon receiving an undertaking from Messrs. EUerman and Bucknall that the service would be WBtinuedi ~ -