STATE SHIPS.
THE EXPERIMENT IN AUSTRALIA. GOOD PROFIT SHOWN. By Telegraph.—Press Assn.—Copyright. Received March 18, 5.5 pan. London, March 17. Mr. Larkin, commenting on Australian cables in the London Press challenging the solvency of the Commonwealth Slppipng Line, stated that the gross profits to the end of June last were £3,182,000 and the net profits were £2,200,000, after allowing £1,000,000 as interest on the original purchase outlay, depreciation and renjwals, besides placing £450,000 to the credit of underwriting. Referring to the current year, Mr. Larkin said the first half showed a substantial profit and the second half ending in June next promises a moderate profit. In any case the line would be in a better position than its competitors in the same trade. Business was developing beyond anticipation.- - Aus.-N.Z. Cable Assn.
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Taranaki Daily News, 19 March 1921, Page 5
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131STATE SHIPS. Taranaki Daily News, 19 March 1921, Page 5
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