OTRANTO LAUNCHED.

Auckland Star, Volume LVI, Issue 135, 10 June 1925, Page 7

OTRANTO LAUNCHED.

"A CYCLE OF DEPRESSION."

BRITISH BUILDERS UNDERBID. SIR ALAN ANDERSON'S VIEWS. (By Cable.—Press Association.—Copyright.) (Received 1 p.m.) IX)NDON, June 9. A great crowd, including many Australians and New Zealanders, witnessed the launching of the Otranto from the slipway at Barrow,' immediately overlooking the shed in which the Australian submarines will shortly be laid down. A bottle of Australian burgundy was broken over the bows. The Otranto promises to be the company's show ship. She sails to Australia in January. In a speech at the subsequent luncheon, Sir Alan G. Anderson, of Anderson, Green, and Co., joint managers of the Orient Line, emphasised the cycle of depression affecting first the merchant, then the shipowner, and finally the builder. The last-named were competing with people who have not adjusted their compasses to the new conditions. Perhaps the British builders would later find that they were not so much above their rivals' prices. There was a spectacle of nations embarking in ship-owning which they were incompetent to undertake, involving losses which they could ill afford to bear. As an instance, the Italians yvere hoping to restrict the transit of Italians to Italian ships, to the disadvantage of the Orient Company, who had hitherto conveyed Italians to Australia.

The Italians declared that they hope to maintain their Italian identity in the new country.

He was not surprised that Australia resented the idea. She wanted newcitizens, but not aliens. He was also not surprised that there were no answers to the tenders to purchase the Commonwealth Line. Australia needed loans, and, more important, private enterprise, which was independent enough to finance itself. He thought that the existence of national trading, which was losing millions, was the worst kind of advertisement for Australia.— (A. and N.Z. Cable.)