Ward Line Failure

The abnormal conditions in the shipping industry all over the world, as well as the cut-throat competitive reduction in freight rates, forced the failure of the New York and Cuba Mail Steamship Co., better known as the "Ward Line." Liabilities of the Company are estimated at $2,000,000, with assets probably in excess of that figure. The principal trouble with the Company is that it cannot at present operate profitably. This has left it without funds to meet current obligations, and forced its bankruptcy.