Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1915-04-28
I, 4 K, SiUlE]FERS
HEAVY Loss
BY WAR

More UsaI to; shareholders in tn,
TrvO Kisp!1 Kaisha. operating raSsen-
ser and tr"igh; steamers in the trans
paCi> service. listened To report
made b. President s. .ASauO at Toxic
recently. Which told Of tremendous
losses in maintenance and tn" sus-
PENSION O. til" u<Hal dividend.
The tr"mendcrs falling OF in r"v"-
rue is attributed by President Asano
to tbs outbreak Ct the war. He call
cd altpntirn TO tie loss during the
Ealf year from July !. 1914, until
March 81, 19l.. amounting TO yen
145,Sl1.7%% and Cther matters of in
ter"st to the Company.
There were present 6II sharrhOld
ers. in person or represented at the
meeting Mr.. SOichirO AsanO, the
president Of the company, presided
and delivered an address. giving an
outline Of What has been done by the
company during the half-year ending
on March 81 He said:
The shipping industry during the
latter half of last year has received
severe blow. directly and indirectly
on account OF the European war AS
Japan participated in the war, vel
could not escape getting our ships
held up while on voyage. On that
account the losses suffered by Jus |
through the services amounted to yen
100000 or more. The Tenyo and the |
ShinyO and otter ships have not fin.
ished their repairs and could not be |
used actively. At the same time, on
account of stoppage OF voyages sever
al times, the amount of the govern
ment subsidy was greatly reduced. |
This added to the reduction of the
income of the company. All these
things caused the company to declare
no dividend on old and new shares at
this meeting.
Since January, this year. many OF
the merchant marines have been COM
missiOned as transport ships and the
world began to feel the shortage Of
ships AS a result the rate of freight
rose considerably and the goods to be
carried are plenty. The present af
lords an extraordinary opportunity to
the shippers and. may be called the
height of prosperity. Looking ahead,
the result OF the business for the COM
ing year, even if it be such as be,
tween the first and the latter halves
Of last year. there Will at least be II
per cent dividend on the old and
per cent on the new shares. The
amount Of curtailment of the company
expenses have reached yen 100000
and there will be more curtailment.
The increased income from the
rise of freight rates is expected tC
be greater than that of the average
Of last year, between the first and lat
.er halves OF; that year. Unless there
should occur some unexpected events,
which would affect the business, the
will be able amply to pay
or 100000 or more yen of losses for
this half year. and at least IL per
1ent on the old shares and per cent
N the new will he declared as d.vi
lends"
70 Change in Schedule.
No change will be made in the In
,er-Island schedule, followed by the
liners MatsOnia and Wilhel |
nina, despite a protest MADE by Hilo
lat the steamers remain too short
Deriod at the port. The Wilhelmina,
% leave Honolulu tomorrow evening, ;
g expected to return Sunday morn I
ng 1t sometimes happens that an !
quantity of sugar at Hilo may (
erve to detain d steamer beyond thu
'egular time The matter of extend.
ng the length of stay Of Matson lin
,rs at Hilo has been considered at a
between Manager J. II.
Drew OF the Matson line shipping de-
rartment and Leon H. Cooke Of IIilO