SHIPPING MERGER

Dominion, Volume 27, Issue 70, 15 December 1933, Page 11

SHIPPING MERGER

Cunard and White Star Negotiations FINANCE FOR BIG LINER (British Official Wireless.) Rugby, December 13. Financial assistance from the Government to enable the completion of the partially built giant Cunarder was promised by the Chancellor of the Exchequer (Mr. Neville Chamberlain) todaQuestioned as to the progress of the negotiations between the Cunard and White Star Lines, Mr. Chamberlain replied: “I can say that difficult and complicated' negotiations, conducted with great good-will on all sides, have reached a stage at which the Government feels justified in assuming that an effective merger of the North At- ' lantic fleets of the Cunard and White Star lines will become an accomplished fact at an early date. It is the Intention of the Government in that event shortly to - lay before the House proposals for furnishing the necessary financial facilities for the completion of the new Cunard linger.” Answering further questions, the Chancellor said that not only would these proposals have to come before the House, but the consent of secured creditors in both cases would have to be obtained. As everyone was anxious to get on with the work, he believed there would be no undue delay. PROUD POSITION LOST Hurdle of Foreign Subsidies London, December 13. In the House of Commons Dr. Leech (C.) said that Britain had lost her proud position since the time when nearly half the shipping of the world flew the Red Ensign. Tramps had been reduced 50 per cent, since 1914. while foreign -had increased by onethird- The Government had rescued heavy industries, substantially by tariffs, and it should similarly rescue shipping. French subsidies on shipping and shipbuilding in 1932 were £4,000,000;, Italian £5,000,000, and United States £17,000,000. Mr. Neil Maclean (Lab.) moved ar. amendment demanding the reorganisation of shipping and shipbuilding under Government control. Mr. Runciman, he said, would make an admirable controller. The President of the Board of Trade, Mr. Walter Runciman, said that Labour’s suggestion could be ignored. The experience of the United States and Australia was sufficient to dismiss the idea of Government ownership. Mr. Maclean’s amendment was negatived by 221 votes to 34. NORWEGIAN VIEWPOINT Oslo, December 13. “Subsidies are the wrong instrument to stimulate world trade,” declared Mr. A. H. Matheson at the annual meeting of the Norwegian shipowners. He denied that Norwegians required subsidies and regretted the British shipowners’ agitation. REPORT DENIED Hon. A. Shaw’s Visit to Australia (Received December 14, 7 p.m.) London, December 13. The “Sun” agency is informed that the report that the Hon. Alexander Shaw, chairman of the P. and O. Company, is going to Australia to participate' in the Australia-New Zealand dis--cussions regarding American subsidised shipping competition is absolutely without foundation. Mr. Shaw sails in the Maloja on December 2 to inspect the P. and O. organisation in India and Australia. The "Daily Express,” it was reported yesterday, said that Mr. Shaw was going to Australia within a few days to assis in a conference to discuss counter action against American subsidised compel - tion between Australia and New Zealand.