ATLANTIC ROYAL MAIL CO.
The report of the official liquidator of the progress
mode in the winding up of the unfortunate Atlantic
Packet Station Company presents a melancholy of wild
speculation, extravagance and mismanagement. The
creditors has been paid their debts in full, leaving
a surplus [?] hands of œ11,075, the greater part which
is applicable for division amongst the preference
shareholders, who paid on their shares no less than
œ527,262. The original shareholders get nothing, and
the amount of their loss exceeds œ870,000. The original
capital was lost, said Mr. Whinny, the liquidator, in
the working of the ships. There was also a great loss
on the sale of the ships, which cost œ766,000, and sold
for œ210,000, in addition of a shortage of œ15,000.
"No wonder", an unfortunate shareholder was tempted to
ask, "Did any one get a pull out of it?". Mr. Whinny
was, however, unable to enlighten him on this point.
