F.H. POWELL & CO. LTD.

The canton charge appears to be a decrescent; Rosanoski thinks this flag applied to sailing ships.

This livery is also attributed to Liverpool, Bristol & London S.S. Co. by several sources, together with the separately referenced P348 version.

The shape of the P varies between sources. Loughran uses a plain letter in MN and a more ornate one in his own book.