6 APRIL 1934, Page 34

THE CUNARD REPORT.

Fresh evidence is afforded—if fresh evidence were required —in the latest report of the Cunard Steam Ship CompanY of the need for Treasury aid in completing the construction of the large vessels designed to aid this country in holding its own in the North Atlantic trade. The net loss for the past year shown in the report was £244,980 against £927,261, but the smaller amount of loss was due to the fact that depreciation was only provided for the cargo ships, so that the total amount set aside for depreciation was only £4130 against £746,566 in the previous year. As can be well imagined, the year was a most difficult one for the Compass)* owing not only to the general trade depression, but to the (Continued on page 560.)

Financial Notes

(Continued from page 558.)

effect of the financial crisis in the United States, while the decline in the U.S. dollar which has followed the devaluation of American currency hit the Company in bringing home sterling revenues. * *