THE PATENT SLIP.

Dominion, Volume 1, Issue 224, 15 June 1908, Page 6

THE PATENT SLIP.

NEGOTIATIONS FOR PURCHASE. A CRITICAL STAGE. The negotiations between the Wellington Harbour Board and the Patent Slip Company have reached a critical-stage. •' We are officially informed, on behalf of the Patent Slip Company, that the position is aB follows: —The company some time ago made an offer to the commitee which had been empowered by the Harbour Board to negotiate for the acquisition of the Slip. The offer was made subject to the. concurrence of Sir James Mills, managing director of the Union Steam Ship Company, which holds a controlling interest in. the Slip: The committeo, in reply,, suggested : other terms, which, it stated, were the best it could rpcommend the Board to accept. The Slip Company rejoined that in that' ca6e f the negotiations wore at an end. It has, however, transpired, we are furthor informed, that tlio chairman of the committee, after recoivingV this communication, called ■ upon a representative of the Union Steam Snip Company and stated that the matter was still open for consideration. The directors of the Patent Slip Company'are still prepared to negotiate with the Board, but are not prepared to improve upon the terms of their offer referred to above, which they consider a very reasonable one. - V In regard to the alternative of compulsory purchase by statutory power, tho vi4w ox* pressed on bohalf of the Patent Slip Company is that,' if that course wore adopted without Special provision being made for the requirements of the Union Company, tho latter would bo compelled to transfer a large share of its patronage to somo other port. The Union Company is already interested in the Otago Dock to the extent of paying £1000 a year for 21 years under a special agreement.