10 MAY 1935, Page 58


In these times of depression in the Shipping industry it is encouraging to note the results achieved by the Union- Castle Mail Steamship Company for the past year. At the recent annual meeting the Chairman, Mr. Robertson F. Gibb, was able to announce that the profit for the year of 1347,423 showed an increase over the previous year of 167,216. Moreover, the profit was arrived at after providi g for full depreciation of the fleet, property and plant, Debenture and other interest, taxation, administration and other expenses, but excluding profit from insurance, which has been added to the Insurance Reserves. The Directors have now added 1250,000 to the Reserve Account, and after deducting the Preference dividends paid on July 1st, 1934, and January 1st last, a sum of 182,149 is carried forward.

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