Company was hailed by most shrewd observers as affording indication
of still better things to come. In the first place, there were signs of economical management, and, in the second place, it was clear that the company was likely to gain in the immediate future by lower charges on its short-term debt, the Board having skilfully replaced maturing obligations by others on which the annual service was smaller.. In addi- tion, it was also evident that the company was making a strong bid not merely for the maintenance of, but for an increase in, the popularity of its ships on the Atlantic service, important alterations being made in the three great vessels the
Aquitania,' Berengaria,' and the ' Mauretania,' all calcu-
lated to increase the comfort of passengers by those lines. The Report which has now been issued shows the material benefits which have resulted, the profit for the year being £660,000 as against £516,000, and the dividend on the Ordinary Shares has been increased from 6 to 7j per cent. A further £100,000 has been placed to Reserve.
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