THE P. AND O. COMPANY.
TRADE AND DOMINIONS.
LONDON, December 10.
Lord Inchcape presided at the annual meeting of the Peninsular and Oriental Company. He 'touched on a number of economic questions affecting the company's interests. The replenishment of the ships of the line, said Lord Inchcape, had been suspended in consequence of the high cost of shipbuilding. He referred to the reduced dividend, the distribution of which was only made possible by the help of the company's investments and by drawing on its reserves. He condemned the protectionist policy in its application to the Safeguarding of Industries Act. Referring to the question of the Dominions' tariffs, Lord Inchcape drew attention to their disposition "to shut out manufactures by tariffs or subsidies. It appeared to be the aim of India and all the Dominions to manufacture their own requirements and to import nothing. Therefore Britain could not rely on Empire trade. He expressed the opinion that not 10 per cent of seamen had their heart in the recent strike in Australia and New Zealand, or in South Africa. The strike was led by avowed Communists.— (Reuter.)
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Auckland Star, Volume LVI, Issue 293, 11 December 1925, Page 7
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186THE P. AND O. COMPANY. Auckland Star, Volume LVI, Issue 293, 11 December 1925, Page 7
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