SHIPPING COMBINES

Gisborne Times, Volume LXXIII, Issue 11951, 23 May 1933, Page 5

SHIPPING COMBINES

TWO HUGE BRITISH GROUPS. CLOSER FINANCIAL CONNECTION. EXTENSION OF EMPIRE ROUTES PROJECTED. (T.P.A bv Elec. Tel. Copyright) LONDON, May 21The Times’ City editor says Messrs Furness Wii'hv and Co., with their associated enterprise, the British Maritime Trust, has acquired a substantia] interest in the Shaw, Savill and Albion Company, now associated with the Peninsular and Oriental Line, establishing a connection between two important British shipping combines. Mr. John MacMillan. Ur 26 years identified with the Shaw, itavill and Albion as manager, general manager and managing director resigns -he chairmanship in favor of Lord E>sendon. hut will continue as managing director. Tlie ordinary shares in the Shi.-.-. Savill and Albion CK. are. no.w EM by the White Star. Oceanic. Steam Navigation. Fumes-- W ithy. and British Maritime combines. The two last-named have large financial resources. "Messrs. Furness V ithy and Co., increased their capital hv £2.000,000 in 1931. when the chairman emphasised that the increase would enable the acceptance of favorable opportunities of expanding their interests. At present the company controls services in Britain, America. South Africa and the East.

The latest development means an extension to other Empire routes.