15 June 2012

The Shipyard Remains Closed

Reported this day in 1933:

The New Cunarder.

Continued depression in the shipbuilding industry and in world trade generally is reflected in the accounts of John Brown and Company for the year to March 31 last.

The company worked at a net profit of £2,385, against £2,654, after charging Debenture loan interest and depreciation. With the balance brought in, a sum of £15,571 is carried forward. No dividends are paid on either the Preference or Ordinary capital.

The report states that the work on the express Atlantic liner, No. 534, of the Cunard Steamship Company, at Clydebank, was suspended during the whole period covered by the accounts. The shipyard remains closed.

It is hoped that the negotiations now in progress between the Government and the Cunard and White Star Companies will lead to an early resumption of work. General stagnation in the shipbuilding industry, apart from new naval work, continues.

- The Western Morning News and Devon and Exeter Daily Gazette

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