U.K. SHIPPING INDUSTRY

Press, Volume XCVII, Issue 28620, 24 June 1958, Page 15

U.K. SHIPPING INDUSTRY

Capital Restrictions To Be Removed (Special Correspondent N.ZJ’A.f LONDON, June 22. The British shipping industry in the future would be free to raise new capital wherever it could and the existing Government regulations exercised through the Capital Issues Committee would be removed, said the Minister of Transport (Mr Harold Watkinson). He was announcing in the House of Commons steps which the Government hoped would help the shipping industry to achieve a more competitive position in world trade. Mr Watkinson was responding to a plea from members of both sides that the industry should receive more help in the present trade recession and against the growing competition from ships under flags of convenience.

PART OF SCHOOL DESTROYED

Early Morning Fire At Newstead

(New Zealand Press Association; HAMILTON, June 23.

The old part of the Newstead primary school was destroyed by fire early this morning. Sixty-four pupils at the school are being found accommodation at Hamilton City schools while measures to replace the building are being taken by the South Auckland Education Board.

It is only fairly recently that a new classroom was opened at Newstead as the first stage in the complete replacement of the 68-year-old existing building. The Hamilton brigade found that the fire had a strong hold. The only water available was that carried in the emergency tender by the brigade, which concentrated on protecting the new building about 30ft away from the old. Irreplacable books and other teaching apparatus were lost by the headmaster, Mr J. L. Proctor.