Page 34 Advertisement 1

New Zealand Listener, Volume 37, Issue 952, 8 November 1957, Page 34

What happens to every pound We earn reinganvme Everybody knows that money needs managing: That'$ why most of uS (from investments and SO on) . The are interested to hear how other people manage theirs. But; whether amount is 7d. That gives uS 3s. 9d. in you re dealing with hundreds of pounds or with millions, the problems hand ~but not for long: are basically the same; it all comes down to shillings and pence in the end: To recover the original cost of our ships Shipping finance is no exception. This is what happens to every wC we set aside as Depreciation the sum of 2S. old: carn in the way of freight and passage money: but costs of replacement continue to rise steeply and to make some provision We spend on Fuel IS. Id. for this we put aside an additional 6d. 2S. 63d. Port Charges come to IS. 6d. Taxation takes Hld: Insurance of ships, crews and cargoes To the Shareholders we pay a dividend of 3d. cost Iod. and that' $ it. Food; provisions and stores come to IS: 31d. Close budgeting indeed ! Labour and services L which includes, More than three-quarters of the expenditure goes on actual operating not only wages for the crew, but the costs expenses; over a considerable part of which the Lines have virtually no of cargo handling, ship repairs and control. There iS, in consequence; little room for economies and adjust- general maintenance 1IS. 31d. ments. A small increase can possibly be absorbed, but if the shipping The service iS to continue then any substantial increase in costs (or a con- original pound has already been tinuing small one) can only be met by increased charges for our reduced to 38. 2d. and only the actual services: There is no other way to balance the budget: operating expenses have been paid SO far. We can however at thispoint take in (Figures quoted from the accounts of one of the New Zealand Overseas Lines 8 small item for miscellaneous income ouer the six-year period ending September I956) Issued in the interests of mutual understanding by NEW ZEALAND OVERSEAS SHIPPING LINES SHAW SAVILL & ALBION Co_ LTD THE NEW ZEALAND SHIPPING CO. LTD PORT LINE LIMITED BLUE STAR LINE LIMITED