THE OCTOPUS

Grey River Argus, 30 August 1939, Page 10

THE OCTOPUS

(London Correspondent). J Some of the biggest investments of British and German capital in the ' Argentine have been made through companies connected with the international holding company ‘Sofina.’ I This Belgian company, with a capital I of £4l million, has big interests in the ; Argentine-Compania Hispano Amen- ' cana de Electricidad, Societe d’Eiectricite de Rosario, Buenos Ayres Tramways, etc. The holding company itself is linked with British interests (Electric and Railway Finance Corporator Mdland Bank) with the German A.E.G. (Allegemeine Elektnsche Gesellschaft) and Siemens interests, and indirectly with the Steel Trust, in Italy with Count Volpi, Milanese electrical magnate and backer ot 1 Mussolini; in France with the bank ot ' Lazard Feres, with which M. Bonnet is connected, and which is also linked with Lazard’s bank in London. Sotma owns companies operating in France, Spain, Belgium, Algiers, Italy, turkey, Mexico, Argentine, and many English directors of this international giant include the Rt. Hon. Reginald McKenna, Chairman of Midland Bank and director of the Pacific Railway, and Mr B. F. D. Docker, also of i Midland Bank and the Electric and Railway Finance Corporation. | “It is indeed strange that in Canterbury where the standards of house construction have probably over many I years been higher than in any other part of New Zealand, and air-seasoned clean rimu has invariably been used, that the question of air-seasoning i should gain the proportions it has now I assumed,” lie said. "The situation is i of vital importance also to the timber 'merchants, who carry in Christchurch I large quantities of air-seasoned timI ber ready for use. In the meantime 'the West Coast mills will r/just out- ! put by closing one day a week, a decision for which it is regretted there is no alternative.” ____