THE ORIENT COMPANY.
QUARTER-MILLION PROFIT.
WAR AND MAIL CONTRACT.
LONDON, Dec. 20
The annual report. of the Orient Stearn Navigation Comp'a.ny shows a profit of £256,574. A deferred divi-_ dend ‘at the rate of 15'per cent free of tax is. declared. A sum of £150,000 is carried forward. The report states that the amounts received from ‘the GOVmlln]ellt for steamers lost while in its employ are inadequate to provide substitutes. Therefore the company is inerezrsing its capital by inviting holders of deferred stock to subscribe two new shares for each one held. The company is ndvised that -the mail contract of 1907 has been frustrated by the war and the Governnl=ent’s conscquent. ‘intervention. The Commonwealth Government has not assented ‘to this view, but without legal predudice. Negotiations are in progress for _a provisional arrangement.
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Bibliographic details
Taihape Daily Times, Volume XI, Issue 3372, 29 December 1919, Page 2
Word Count
134THE ORIENT COMPANY. Taihape Daily Times, Volume XI, Issue 3372, 29 December 1919, Page 2
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