SHIPPING LOSSES
ORIENT COY. REVIEWS YEAR. [United Press Association.—By Electne Telegraph.—Copyright.] LfONDON, December 15. At the Orient Co.’® meeting, Mr Alan Anderson, presiding, said: The centre of the economic typhoon seems now to be almost upon us. The year’s accounts do not show the full disturbance. Next year will certainly be much worse, but we have long known the danger of it approaching, and had time to prepare. through generations of- reasqnablyprosperous trading, the shareholders have supported the managers in putting by reserves for depreciation and contingencies, thus providing generously to meet the misfortunes which come to all shipping line®. I would feel happy if I could say that next year will be our worst, but no one can say how many years ot famine there will be. We hope that the two great democracies we serve will do their best to meet us in the circumstances. ’■ WAGE CUTTING. ON MARINE ENGINEERS. [LONDON, December 15. At the result of long negotiations per medium of the ’National Maritime Board, navigating and engineering officer’s pay is being reduced by ten per cent, from January 31.
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Hokitika Guardian, 17 December 1931, Page 6
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183SHIPPING LOSSES Hokitika Guardian, 17 December 1931, Page 6
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