"To go without is disappointing, but perhaps the dividend is not most important.

I'd like to feel my shares were worth the money they cost, and find out they are not.

We have drawn on the reserves and I expect this implies we are losing money.

You can't go on losing money very long, and we ought to stop while we have some capital left." A number of the others applauded and she continued: "Our directors have worked very hard.

To manage ships that don't pay must be tiring and perhaps we oughtn't to ask them to bear the heavy strain.