UNION CASTLE OUTLOOK
Mr. Robertson F. Gibb, the chairman of the Union-Cast: . Mail Steamship Company, takes a rather different view aboc.: (Continued on page 785)
FINANCIAL NOTES
(Continued from page 782)
shipbuilding at this juncture.-. He reported that of- the 14 vessels ordered by the Union-Castle Company since 1934, to were ordered before the great rise in shipbuilding costs began. The four vessles now under construction are costing considerably more, and Mr. Gibb will be reluctant to place further orders until prices fall. He nevertheless takes fully as cheerful a view of the outlook as does Sir Percy Bates. Provided existing conditions continue, the indications generally point in his view to the present year proving a fairly satisfactory one for the company, although increased expenses are bound considerably to affect profits: He disclosed the hope of the board that they will be able to pay a moderate dividend on the ordinary stock out of the current year's profits if present conditions continue, but coupled this forecast with a warning that the company would pursue a sound financial policy and
build up reserves appropriate to its standing. * * * *
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