(Received 9.34 a.m.)
LONDON, May 9. Ismay and Imrie are pledged to Mr Morgan not to engage in the shipping business between the sea bounds of America, Canada, the West. Indies, Mexico, the United Kingdom and Europe for fourteen years.
The syndicate's agreement foF a decade gives the firm of Harland and Wolff all the building aud repairing to the fullest capacity of the Belfast yards, provided they do not build for competitors apart from the Ham-burg-American line, but the American ship-yards are not debarred.
Separate agreements exist between the syndicate and the HamburgAmerican and North German Lloyds, which are not published.
The White Star East Asiatic fleet has been sold outright.
The employees are guaranteed that they will not be disturbed in their positions for a year.
Mr Morgan proposes to form a syndicate to re-purchase from the vendors debentures and fifty million dollars' worth of shares.
All the ships that sail under the British colours will have their names still registered in the British register, but the majority of the proprietors will be Americans.
The "Standard" states that a question of technical validity will arise.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/AS19020510.2.49.4
Bibliographic details
Auckland Star, Volume XXXIII, Issue 110, 10 May 1902, Page 5
Word Count
187Untitled Auckland Star, Volume XXXIII, Issue 110, 10 May 1902, Page 5
Using This Item
No known copyright (New Zealand)
To the best of the National Library of New Zealand’s knowledge, under New Zealand law, there is no copyright in this item in New Zealand.
You can copy this item, share it, and post it on a blog or website. It can be modified, remixed and built upon. It can be used commercially. If reproducing this item, it is helpful to include the source.
For further information please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Auckland Libraries.