THE SHIPPING FUSION

Dominion, Volume 10, Issue 3117, 22 June 1917, Page 4

THE SHIPPING FUSION

MESSAGE MOM SIR JAMES MILLS,

Sir Jamog Allan has received tho following message by cablegram from Sir James Mills, of the Union Steam Ship Company, who is now in London, regarding the proposed fusion of the Union Company with, the P. and 0. Company.— ' "I am advised that some anxiety ia expressed in New Zealand that the fusion of the interests of the Union and P. and O. Companies will militate against New Zealand, and that the identity and control of the companies will pass away from tho Dominion. I may explain that the general position will not be materially altered. The share capital of tho company has always been largely held outside tho Dominion, and to-day New Zealand holders aro equal to only about three-tenths of the total capital. I ani glad to tako this opportunity of assuring you that tho arrangement with the P. and 0. will not in any way affect the management or methods of the company, while its headquarters and control will, under the same hands as hitherto, remain in the Dominion. Tou may rely on the interests of the Dominion being conserved, and I may go further and say that in my opinion greater shipping facilities through the allied companies will bo at the disposal of the public than were possible before. —(Signed) James Mills."