JAPANESE SHIPPING PROFITS.

Star (Christchurch), Issue 12082, 10 August 1917, Page 5

JAPANESE SHIPPING PROFITS.

Tl-n Nippon Yushcn Kaisha, tho Tnpanoso Mail Steamship Company, has i-'r't issued its half-yearly report and balance-sheer, for tho period ended March Ml. Tho surplus earnings, after deducting current, expenditure for_ _tho half-yeai" amnsintflfl to £2,21.5,524. Depreciation of properly, insurance and ship structural repair funds absorbed £263,811, leaving a balance of £3,847.829, which included £1,896,110 brought forward from Last account. Tho directors proposed that £9<,580 be added to tho reserve fund, and ) that £20,00(1 be allowed as directors' and auditors' fees, and £40,000 for the employees as a special grant, for their services in connection with tho war. Tho profits were disposed of as follow : Usual dividend . . • 8 per cent Another dividend . . ii per cent Special dividend . •20 per cent Extra, spfcial dividend .40 per cent Extra bonus to employees £82,500 Bxtra allowance to directors and auditors . . £15,000 From tho above figures it will be seen that the yearly dividend is at the ra.to of 70 per cent. At the present tinle the N.Y.K. owns 102 stcjaniers, tho total tonnage being 459,260.