Part, of this loss was offset by a reduction of $233,371 in the deprecia-lion on steamers in 1936 from the amount of depreciation written off in 1935, which is due to the sale of steamers, referred to above, early in 1936.
The consolidated profit and loss statement of the United States Lines Ca. and its subsidiaries for the year 1936 shows a loss of $833,088.97, after all operating expenses and interest and after providing for depreciation on its vessels and other property on the usual basis, as compared to a profit of $35,559.52 for the year 1935 ior the same activities, Included in the statement for 1936 are depreciation on the steamship Leviathan amounting to $450,000 and the balance of $250,000 expenses as a result of the steamship Leviathan lay-up agreement, making a total charge against income in 1936 of $700,000 on account of the Leviathan, which charges will rot occur in the future.
Text read from the printed page and cleaned; old type leaves the occasional error.