COMMONWEALTH SHIPS
A LOSING PROPOSITION. (Australian and N.Z. Cable Assn.) LONDON, December 13. "Fairplay," commenting on the Commonwealth liner Morton Bay, says the question arose whether British financiers ought not [o re-fuse to lend Australia money to invest in ventures likely lo result in serious loss, and suggests that the Commonwealth line's wartime profits were likely to be more than swallowed up by current losses. It forecasts that the Bay steamers, costing over £1,000,000 each, are likely, lo make a heavy loss on every round trip, and cites the shipowners' recent freight, concessions lo Australian merchants as indicating their anxiety lo meet clients' .wishes. It concludes, '•Though Mr Hughes' state : ment lo Parliament suggests that the Commonwealth Line is likely to run until the taxpayers refuse to have their pockets picked for the privilege of running their own steamers, that is an insuDicient reason why financiers here should empty theirs for them."
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Bibliographic details
Waikato Times, Volume 94, Issue 14829, 17 December 1921, Page 5
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152COMMONWEALTH SHIPS Waikato Times, Volume 94, Issue 14829, 17 December 1921, Page 5
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