THE SHIPPING DEAL.

Auckland Star, Volume XLVII, Issue 158, 4 July 1916, Page 7

THE SHIPPING DEAL.

ADVANTAGE? TO NEW ZEALAND SHAREHOLDERS. (By Tnlesraph.-Press Association.! ("HRISTCHrKCH. this day. Speaking of the proposed shipping deal between the I', and O. Company and the New Zealand Shipping Company, Mr. A. W. Bennett, general manager in New Zealand for tho New Zealand Slupping Company, remarked to-day that the benefit which shareholders in the NewZealand Shipping Company would derive, should tho proposal be accepted, would be that the P. and O. Company paid 15 per cent dividend on its £10 sharps,! whereas tho Now Zealand Shipping Company was paying S per cent. It was one of the conditions of tho proposed arrangement that Tii per cent of tho deferred shale* wore thus transferred to the Now Zealand Shipping Company. He thought that tho arrangement, if| carried nut, would be beneficial to t:i„} Dominion, inasmuch ao the I. and 0. Company owned 50 ocean-going steamer-,, and it had controlling powers similar to , those it now sought over the British India Steam Navigation Company, which owned 34 large steamers. There i would, therefore, always be a possibility of additional tonn;;ge coming into this trade should it be required. A meeting of directors of the New Zealand Shipping Company was hold to-day, but only formal business was transacted pending the circularising of shareholders on the question.