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Auckland Star, Volume XXXIII, Issue 110, 10 May 1902, Page 5

(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.