PORT LINE, LTD

Dominion, Volume 32, Issue 144, 14 March 1939, Page 12

PORT LINE, LTD

Review Of Accounts

The accounts of the Port Line Ltd., which were recently issued in London, show that at March 31, 1938, there was a balance at credit of profit and loss account of £162,710. against £162,403 a year previous. Paid-up capital remains unchanged at £2,600,000, of which £750,000 is in 6 per cent, cumulative preference ehares. All the preference capital is owned by the Cunard Steamship Co., Ltd. which also owns £1,838.000 of the £1,850,000 of the ordinary capital., -Contingency reserve is unaltered at £325,000, insurance reserve has increased from £55,136 to £61,296, and creditors and other credit balances aggregate £460.078. against £477,858. The fleet, which, according to Lloyd » Register consists of 14 steamers and 14 motor vessels totalling 229,781 tons gross, is valued at £1,882,414, and averages about 12J years of age. Investments stand at £1,341,189, of which £1,134,194 is in British Government securities. The sum of £42,973 is invested in a’subsidiary company. Cash amounts to £150,537.

Gold Mining Returns The Gillespie’s Beach dredge returned 370 z. sdwt. for 122 hours from 14,987 yards. The wash-up at the Moonlight Co.’s claim on March 9, was 133J0z. for 400 hours’ sluicing. By Telegraph—Press Association DUNEDIN, March 13. The Clutha River return was 181 oz. for 140 hours. The Paddy’s Point Mining Company reports a wash-up of 640 z. as the result of six weeks sluicing. AUCKLAND. March 13. The Matakl return for the week ended March 10 was 9pz. for 132 hours from 7200 yards.