THE RIVAL CABLES.

Auckland Star, Volume XXXVI, Issue 17, 20 January 1905, Page 5

THE RIVAL CABLES.

jjjjEKESTING RUMOURS.

A POOLING OF PROFITS.

, Received 0.11 a.m.)

MELBOURNE, this day

Xbe stiilPinent published in the press to the effect that iv the Pacific ami East,.ni Extension Companies (siei are both \ O i\i\» money, then , may be a pooling of receipt* with and the cessation of conization, and the raiding ot cable rates. it is ineidentully suggested that the postJjoneinent of the Pacific Cable Conference may an" lVc '- ! the wis!x t0 P lace the pastern Extension Company in jueh a •.α-ition that it cannot fail to agree to a -pool." The manager of ilio Eastern Extension, in an interview, said that the suggestion thai liv company might combine in raising the rate pointed to a proceeding that wa? out of its power, the agreement providing that once the rate was reduced i; tould not be raised. Because of that agreement competition was now acute, and rates could not be raised unless the Governments interested in the agreement consented. It would require something it binding as an Act of Parliament to do that. i Received 9.59 a.m.) MELBOURNE, this day. The Postmaster-General has declined to say anything with regard to the cablepooling rumours, or to the forthcoming Pacific Cable Conference, adding- that something might turn up which would warrant him in making some representations. [The Pacific cable i>. of course, wrongly described above as a ''company." Tha Pacific Cable Board is the controlling body of an association of the Governments interested. The cable was financed sole'y by these Governments, and the talk oi their forming a "pool" with a private company is so much the more interesting.]