OCR Text |
Show oo MERCANTILE MARINE TO SHOW GAIN IN EARNINGS NEW YORK. June 7. Estimated earnings of the International Merchan-tile Merchan-tile Marine company for 1919 amounted amount-ed lo $24,595,881. against actual earnings earn-ings of $17,534,704 In 1918, according accord-ing to the preliminary roport Issued for publication today. Deducting interest on bonds and depreciation on steamors, tho latter Item amounting to 55,225,654, leaves a net result of $17,160,985, or J5.667,-910, J5.667,-910, increase over 1918. These 'figures represent earning of fiteamers directly owned by International Inter-national Morchantlle, togethar with returns of subsidiaries, which are largely of British ownership, Earnings so far this year, aro ntatod to be under the corresponding period of 1919, due to lower freight rates, labor difficulties and excessive cost of fuel. For the remainder of tho year, however, earning are escpnoted to improve, as eome ot tho company's passenger ships have ben reconditioned recondition-ed and restored to their trades. |