Union sells shares
The Cooks and Stewards’ Union has followed the lead of U.E.B. and sold its shares in the Union Steam Ship Company. U.E.B. sold $60,000 worth of Union Steam Ship shares last week. Maritime unions were offered shares in the Union company’s holding company, New Zealand Maritime Holdings, Ltd. in 1972. The Cooks and Stewards Union bought $20,000 worth. U.E.B.’s sale came after the sale by another major Union company share-
holder, Maritime Services, Ltd, of its shares in December. According to the union’s national secretary (Mr J. Savage) union members had last week been expressing some concern about the future of their investment. As a result stop-work meetings were held throughout the country this week so that executive members could explain the union’s position, said Mr Savage. However, the union had been advising its members that there was no cause for concern, he said.
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Press, 25 February 1977, Page 1
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147Union sells shares Press, 25 February 1977, Page 1
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