BRITAIN’S SHIPPING
OPTIMISTIC OUTLOOK CONFIDENCE DISPLAYED Received July 4, 11.2 sp.m. LONDON, July 4Commenting on the Peninsular and Orient Company’s sale of Cory shares, the Daily Telegraph says: ** It augurs well for the future of shipping when the Peninsular displays confidence by parting with remunerative investments in order to lay down new, up-to-date' steamers, and as it prefers this method of raising cash it may be presumed that the raising of new capital would have been regarded as an extravagant form of finance. The rise in Peninsular shares shows that the market opinion supports this view. The White Bear line debit balance of £12,177 was carried to the deficiency account, which now amounts to £2,167,714, included in which is £1,487,806, the loss on the sale of the AberdecnCommon wealth, fleet. The balancesheet shows that the balance of the purchase price of that fleet and accrued interest due to the Commonwealth of Australia is £732,113.
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Wanganui Chronicle, Volume 77, Issue 157, 5 July 1934, Page 5
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154BRITAIN’S SHIPPING Wanganui Chronicle, Volume 77, Issue 157, 5 July 1934, Page 5
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