increased to 39 vessels trading worldwide and operated by six Reardon Smith companies, which made it the largest Cardiff shipping company. As a result of the collapse of freight rates, both the Leeds and Cornborough had financial problems which led to the Cornborough collapsing in 1923 with liabilities of over £400,000, and yet its eight ships only had a combined value of £190,000. Two ships were sold, two transferred to the Oakwin Shipping Co and the remainder transferred to the St Just Steamship Co. In response to what had been his most disastrous maritime venture, Reardon Smith offered as compensation one share from his personal shareholding in the financially sound St Just Steamship Co Ltd for every three Cornborough shares. In December 1923, the offer, which was worth £48,000, was accepted by the Cornborough shareholders. In June 1923, Reardon Smith established Reardon Smith (Union of South Africa) Ltd with capital of £250,000. In 1926, he was a founding member of Honourable Company of Master Mariners. In the late 1920s, in response to the continued deterioration in maritime trade, Reardon Smith began to reduce the size of his fleet, with seventeen of the older ships eventually being sold. He did, however, purchase some replacements including four motor ships. The Reardon Smith Line started a regular service from the United Kingdom to the west coast of North America. To reduce costs, the downturn gave a stimulus to innovation, and in particular to use of the marine diesel engine. Despite British tramp owners being notoriously distrustful of foreign-designed machinery, Reardon Smith eventually ordered two motor ships and had delivered in 1928 the East Lynn from William Doxford and the West Lynn from Napier & Miller. While the former had four-cylinder Doxford engines, the latter had six-cylinder engines from Harland & Wolff/Burmeister & Wain. While both vessels gave very satisfactory service, the Doxford engines proved to be superior, leading to the building of seven more Doxford diesel-engined motor ships before the outbreak of the Second World War. In 1928, Reardon Smith established a pension fund for his seagoing staff employees and later extended it to cover all employees. Reardon Smith died peacefully in his eightieth year after a short illness on the evening of 23 December 1935 at his home, Cornborough in Cardiff, surrounded by his family. In his will he left over £200,000. By the time of Reardon Smith's death in 1935, his