P. AND O. COMPANY.
PAST YEAR’S BUSINESS. PROFIT FROM INVESTMENTS. LONDON. Oct. 18. \t tlie meeting of tlie I’, and <L < <>lll- - Lord Inehcnpe. referring to die los> of the Egypt, said that nothing would >e wauling nn the company’s part m the direction of taking every_ possible precaution to protect lives. The os gnie-m mu and discipline «n 'he Peninsular v\:t.*> sec-wiui to none, hut Mho hnniitti element was always present. The Egypt '-as )aopcily manned and equipped m ’every respect. Owing to. I lie expenses being tar above those ruling before the war. llm insurance account was not as successful Its in the previous year, bin it bad met eased by £94,242 despite the heavy payment on account of the Wiltshire. The conservative policy which the Peninsular and associated companies had always, followed ga'->' a handsome sum front investments, which justified the payment of a similar dividend as in 1921. Apparently the poor 1 nulc period would continue for a year or two. Lnforfunntely the branch liners were si ill tilling only one-third of their space on their outward voyages. He hoped the Ans--1 ruliau I rade. would soon revive. I here iimsl soon he con.'-idorable further reditc lions in the seamen’s wages il the ships were to he kept running. Lord li.elicnpe said he was glad the previous redactions had been ellccled without lockouts or strike-. The company held. Govirnmcnt. securities nominally valued at £7.500.000, which co-i £61893,000. Tlm-e and .all other securities appeared in the accounts at much below their market value. The eretli. balance included a '.cry small profit from running the ship- ; tinbulk was derived from investments. Ibe valuation of the company's ship.- m 'be accounts worked out at under £1 .l"f e.O lons’despite the inclusion of the ucwt'si ami largf'si. vtv-si'l.i.— ■■A. and N./. c*;iI »I« *.
Permanent link to this item
Hononga pūmau ki tēnei tūemi
https://paperspast.natlib.govt.nz/newspapers/MH19221021.2.30
Bibliographic details
Ngā taipitopito pukapuka
Manawatu Herald, Volume XLIV, Issue 2496, 21 October 1922, Page 4
Word count
Tapeke kupu
303P. AND O. COMPANY. Manawatu Herald, Volume XLIV, Issue 2496, 21 October 1922, Page 4
Using this item
Te whakamahi i tēnei tūemi
Stuff Ltd is the copyright owner for the Manawatu Herald. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.