FURNESS, WITHY AND CO.

Evening Star, Issue 22440, 10 September 1936, Page 7

FURNESS, WITHY AND CO.

FORTY-FIFTH ANNUAL MEETING It was stated at the forty-fifth annual meeting of shareholders of Furness, Withy, and Co. that the investments in subsidiary companies—£5,969,109 an increase of about £550,000, revealed a material alteration, the variation being almost entirely due to the inclusion of the company’s investment in the Shaw, Savill, and Albion Company. The chairman (Lord Essendon ) stated, inter alia : “ We have acquired during the past year the balance of the share capital of Shaw, Savill, and Albion in order to secure a very definite participation in an Empire trade of the first importance. The Shaw, Savill, and Albion Company has been established for a great many years in the trades between the United Kingdom, New Zealand, Australia, and South Africa, and it has a deservedly high reputation for successful and efficient operation. The fleet consists of 26 passenger and cargo vessels, all of which are fitted with refrigerating machinery, and the company also has a large interest, as managers and part proprietors, in the Aberdeen and Commonwealth Line of steamers. . . , Through the acquisition of the Shaw, Savill Line, the Furness, Withy Company now has a very direct interest in the New Zealand and Australian trades. ... In the carriage of chilled beef and frozen meat from the South American companies the Furness, Withy interests are chiefly centred in the Furness, Houlder Argentine lines and the Houlder Line, in which a large amount of capital is invested. The value of British shipping engaged in the transport tf meat from South America approaches £20,000,000 ”