SHIPPING DEPRESSION

Otago Daily Times, Issue 19473, 7 May 1925, Page 9

SHIPPING DEPRESSION

GREAT CARDIFF FIRM IN DIFFICULTIES. DIRECTOR’S ROMANTIC CAREER. E’nM Aaeooiatiua —By Telegraph—Oo^ytighaLONDON, May 5. (Received May 6, at 7.15 p.m.) A surprise has been created in business circles by the issue of an order by the Chancery division for the appointment of a receiver-manager for the great Cardiff concern, the Gould Steamship and Industrials, Ltd. The Company's authorised capital is three millions sterling, and half a million sterling debentures have been issued. The application was made with the company’s consent on behalf of the Eagle Star and British Dominions Insurance Company, trustees for the debenture holders. The business is being carried on for the benefit of the shareholders. Mr J. C. Gould, who is an ex-member of the House of Commons and is the governing director, had a remarkable career. He is the son of a working man. He went to South Africa as an ordinary seaman, but left tre ship there and worked as a clerk. He then went to the United States, where he was employed successively as a labourer and an insurance clerk. He studied insurance and became the head of the largest New York marine reinsurance company. He established, in 1908, a reinsurance firm in London, with branches throughout the Continent When the war ruined reinsurance ho became a shipbroker and shipowner. Through his knowledge of Continental reinsurance ramifications ho revealed how Germany was learning from this source about shipping movements. The company is the victim of the world slump and the continued shipping depression.—Reuter.