BETTER CONDITIONS
EXPERIENCE OF SHIPPING FIRM. •BUSINESS WITH AUSTRALIA. By Telegraph—Press Assn.— Copyright* Rec. 5.5 p.m. London, Nbv. 26. The P. and O. Shipping Company, ffi the annual report, states that the improved conditions in the Commonwealth in 1933 had been sustained. Shipment* from Australia, as anticipated, showed a. slight increase, . Apart from the uncertainty regarding wool, owing to restrictions by some Euto«pean countries, the prospect* for the coming year might be regarded 6* favourable, though cargoes for Australia had been again disappointing. There' had been some Improvement, which appeared to be continuing.
A Credit balance Of £395,885 WaS reported, including £154,616 brought in. A sum of £153,885 Was carried forward. The amount set aside for depreciation on the fleet on a 5 per cent, basis Was £1,387,928. To provide this £850,000 was transferred from the reserve for the redemption ot the 1930-40 debenture issue, which was redeemed in 1933, and £385,085 was appropriated from the profit made bn the Sale of the company’s holding in William Cory and Sons Ltd. It was decided to write down two ship* which will shortly hot be required.
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Bibliographic details
Taranaki Daily News, 28 November 1934, Page 5
Word Count
185BETTER CONDITIONS Taranaki Daily News, 28 November 1934, Page 5
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