SHIPPING AMALGAMATION

Dominion, Volume 7, Issue 2191, 2 July 1914, Page 4

SHIPPING AMALGAMATION

—o 1' AND 0 \ND BRITISH INDIA ~ Tiiore have been many rumours in ilio past regarding the Peninsular and Oriet-t.al CoTnpanv absorbinp; or amal-: K.a;iiSiit;|>n:g with other shipping concerns, : but on May 22 .last' it was definitely. an- ■ iiwjnced that. the P. and 0, and British India Steam Navigation. Company had ! ap,ree.d to join forces. At the dtitc.. of the last report, and balancc-sbc.ct, ibo Peninsular and Oriental had. steamships ■ worth, ou the reduced valuation shown, ltj its hooks., np' .tess. iJiSij ; .i./ it wrote off from that sum s.onie- ■ t)]in.!i considerably r>vcr lirtlf -.ni 'ipimtfti i ; Sterling for depreciation during tho period that had "lapsed since the taking'., of il.i.e previous valuation. It further had jtahdir.j; to the. -debit <if its fleet ' ft Sum of nearly £818,000 paid iu ad- : vance towards the cost of ships which ■ had beei'. i.omroenecd for i.ts services, but, which had not as yet heen delivered.

Its gross S'friviial revenues, including mail money, amounts to over •>; n'illiorts a ycrvr, aivfl it tVistTibiltcs i'l!)2,ono S year iii fl:.yld'on<ls "to; its fhnreholdcre —tlio dofcrro.ii shnrcliofdcrs tnlting p. if) per cent, dividend ami an addit.iorru 5 per cent. bonus during tiio good times of sliinpir.p;. v ' ,; 'Hie BrUisfi India is also a bi<i and prcispei-otj# cdjico-rri:, tart ;iti is neither so c-kf nof So well Imoitii to iho son oral public as Ws new partner. It was oricir.all.v a, local Indian business. under jftifc style <il Ijie Cnjcntia and liiirinnh Steam Xavication Company. This was in the 'titties,; but subsequently, ■opening up ocean routes as well, as its. older eartstluof services. it. took l.lie Hatha which it, has now boriin for many years. Twenty yestrs nifto when iteets were sn;:.'lloi' :m'd ships of lass tor.nitge the- P. and 0. and (iv> <3«.nipa,iVv teste rivals its fax ivMc'li eon Id show the hi:igost ionnaijo, their totals at tlmf iin?o amountmc; Hi eOuwM'horc about -100,000 eceh. ■ At the onsn of the Writ Hi India taiiinffo was ? : l*.!.(jS7 ions, l.teadinr; tili.o tMki-sli Mi sfelsf. ,t,te P.' and 0. ■caino third «i:h $(3,0(51 tent. The 120 steamer? owned by tin! British India- wefe. vyluetl i'u flff*- last !>.,l;rnosh'>ot at M,8B6,:888, v;-!;iSst Jmlf ji raillir,ti had been paid on i¥£o'iin.'t Of vessels under ccifT.'striiijtioh. The capital of tills company is aWirt 1 2-.% d millions, whilst, a sir.;iiar amount of' debentures is eut hot feed fliw'.ugfi onlv a quarter of a million of fctrein has been issued. Its slojk is. divided into lireforred and. wcliniiry and the latter -last ye.ftr received si 10 per eon,' distritajion, of which per oftift. » ho.ittts, ( The I'iiirsh India, besides their local services, whiY.lt serve an iwfeiite number of oarts in tile Jhistmi ttade, !mv<? poiv l-.vaiii ifn.e semees from London fort' nightly to Colombo. Madras, and Calcutta., n-.onthi.v to Queensland. about ■o-vcry ten dit.vs to Bombay .afiii Sijraeh'i, and ili!ti;!bly to I'ort Si:;ia» and F.as.t Africa, fwr.ie ei their vessels are. of iU«h speed na<s jl'rave excellent -,y.vssetreer aceßfflriiodattott, tiiem"li t'lify li.avc WW laid thooi.scivcS <v.rt t« vaninre 1 the ifiSOO-'IOO a subsidy 'whio!) tb.« P. oiwl 0- draws for its imperial mail services. U will be- seen, ilien.. thai t'fos eoinbiitatmu is one "hi: Ji will uial;e for fl'f rtt, strWtgtll, tlio two organisations efi"('!)!I- y ibeiiflu-ijh CvUirmiimty of n>tprc&t, airtl thu.s Prol.ibly of wni:l;tircr. In nir.itv trades in v.liien they Wtii.h.rivo Servine-s it may he iwa'sible in efiniin. ■ate sailings. Rut t'Jiei'o sire others irhcre lio eempeli'ion between tlift two has ev.-r fxis'r-!, as, foi iiiStaflot'-, that to Snnth A.friea, T'ao new arr.iJigei'flents 'will ih-ersfo-e tend not, onlv to s!)errijthen the two cowpriiiie-':, ivliKfh are' farofl u'ith serioVis canrpetjV | tioit ffviw Viiws. l.mt thero fill! I ta eonsi.dei'ftble ifeiikiod ttot ex* | feiKW fiieilities ftiay be avaikhle to j the tfuijper and tile passenger. j