SHIPPING OCTOPUS

Grey River Argus, 9 November 1931, Page 5

SHIPPING OCTOPUS

New Policy

I OF JDECENTEALISATIQN. (Aus. & N.Z. Cable Assn.) LONDON, November 6. It is authoritatively stated that no further negotiations are contemplated for the shipping merger of the Cuiard and White Star Lines. The latter -A now expected to continue a separate entity. Drastic economies are necessary, and are therefore being effected to aneet the present conditions in the shipping wiorld states the R.S.M.P. A scheme of re-organisation has been completed. The contradistinction to . Lord Kylsant’s contemplated merger %f all the tonnage i n his control with a capital of two hundred millvons, the trustees have dec-idea to adopt on a - geographical yhsiq forming smaller groups wi,th the holding company concerned the larger matters of finance. The various groups will deal with the Atlantic, iSjouthi America,, Australia, New Zeal land, and also South West East . Africa. The coastal shipping will Constitute au independent group. Tike the Glen Line in the Far East. Each off these companies will bo controlled by a management which hag> specially .studied the needs of the particular •trade route. Hon. W. P. Runciman’s Cabinet appointment his* retirement from trusteeship. The Company points out the situation would be * greatly improved in the White Star. Company negotiations with the Canard Comgafiiy are successful.