Bigger Profits For Steam
p. 64 · Read in the full issue
Ships Trading Co.
rE accounts of Steamships Trading Co., Ltd., of Papua, for the year ended July 31 last, showed a net profit of £16,892, compared with £7,340 in the previous year. The company therefore has been able to continue its 7 per cent, dividend on Preferences, and raise the Ordinaries’ div. from 2 2 to 5 per cent. The General Reserve h|,s re ceived £4,000, and now stands at £54,000, and £7,805 is carried forward.
The company is not allowed to trade, or operate ships or carry on any of its ordinary activities, except rubber and copra production: and the prevailing higli prices have given it the profit announced.
The outlook for the company is very uncertain, however.
Against a subscribed capital of £143,633, and Reserves of £77,000, the company has £38,000 on deposit, £47,022 assessment of damage (War Damage Commission), £6,802 of claims lodged with the Army, and property valued at £143,500.
Litigation Discontinued
The following note appears in the an nual report, relative to a claim for about £lOO,OOO, • made by the company against the Australian Government: “During the year, litigation was under taken with regard to certain of our com pany’s and associated companies’ proper ties, but this has now been satisfactorily dealt with out of Court.’’ This is in teresting. Did Messrs. Aldermen & Co. really pay up, in the end?