to-day report a deficiency account which was £9,000,000 at the end of 1930, and at the end of 1933 was The directors emphasize that the amount "merely represents such losses as have been possible to assess Jand cannot be regarded as covering [the whole of the losses which may result to the company."
The company received little during 1933 in the way of normal revenue from investments in shipping con-
Text read from the printed page and cleaned; old type leaves the occasional error.