Deficiency Account Shows £2,300,000 Increase London, Oct. 17.
'A. suggestion that it may be neces sary very shortly to consider wind ing up the Royal Mail Steam Packet Ca. was made to-day by Brig.-Gen. Sir Arthur Maxwell, deputy—chairman, at the annual meeting of the company.
The chairman declared that the Royal Mail's deficiency account hal) increased from '£9,000,000 to £1 400,000 in the past year. "Even the new folal," he said, "the amon nit this defieleney does not yet re present the full extent of the losses which have been and will be sustained by the company."
'The two-year moratorium grante' by the creditors of the company; would expire on December 31, Sir Arthur Maxwell explained, and the Girectors had been working fo: months to determine their future -aurse. The prospects of evolving Feheme to meet all the conflicting interests involved were remote, he concluded.
The announcement came as a new blow to the stock-holders.
Me. Philip Albright Franklin, head of the International Mercantile Air Lines, who Is reported to be one of the principal creditors of the com pany, attended to-day's meeting, but Fefused to comment on Sir Arthur"
Text read from the printed page and cleaned; old type leaves the occasional error.