SHIPPING LINES SOLD
THIRTY-NINE VESSELS DISPOSED OF
By Cable.—Press Association. — Copyright. WASHINGTON, Thursday. The Shipping Board has accepted the bids for the sale of the Pacific steamers. Altogether, 39 vessels have been sold.
The Matson Navigation Company, and the American-Hawaiian Steamship Company, bought the 21 ships of the American-Australian-Orient Line with a joint bid of £396,350. Mr. K. D. Dawson, on behalf of a new corporation to be formed, bought the Oregon and Oriental Line, 11 ships, for £213,000. The Tacoma Oriental Company bought the AmericanOriental Mail Line, of seven ships, for £139,380.
The bidders agreed to operate the vessels for five years. They will pay 25 per cent, of the purchase price on delivery, and 10 per cent, each year for seven and a-half years, with in terest at 41 per cent, on the unpaid balances.—A. and N.Z.
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Bibliographic details
Sun (Auckland), Volume I, Issue 282, 18 February 1928, Page 9
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139SHIPPING LINES SOLD Sun (Auckland), Volume I, Issue 282, 18 February 1928, Page 9
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