BOLSHEVISM

Hawera Star, Volume XLVIII, 11 December 1924, Page 5

BOLSHEVISM

PARALYSING TRADE. ; at Australian ports. SHIPOWNER’S VIEWS. V BT CABLE—PRESS ASSOCIATION—COPYRIGHT. (Received Dec. 11, 10.55 a.m.) LONDON. Dec. 10. At the annual meeting of the P. and O. Company, Lord Inch cape, alluding to. the competition with State-owned shipsi said that with a few exceptions the earnings of every voyage were below disbursements. He feared it would be . some years before pre-war conditions were restored. The Governments bf . America, Australia and Canada, on to State-owned steamers after the war, were now attempting to dispose of the ships, but the vessels would not realise a quarter of their Cost. He 'recently- bought for. about £6o>ooo two steamers which cost a certain; Government £600,000 only four years ago, and heaven only knew how much since, Lord Inchcape referred to a proposal to build six 20-knot steamers to carry passengers, mails, . meat and fruit between England and Australia, in Which the Commonwealth GovernJnerit Was invited to assist financially. Application was also made for trade facilities. The committee estimated the cost of- the venture at £9,000,000, Whereof It was proposed that £3,000,000 should be in ordinary shares and £6,OOOjOOO. in debentures. If he were rightly informed, the Government would have nothing to do with such a Wild eat. scheme. He believed the whole idea was doomed to failure. Lord Inchcape, describing the side strikes, said that apparently law and order at Australian ports did not exist temporarily. He, however, had implicit faith that Mr Bruce- would protect the country from whht Was more or less Bolshevism and save her trade from the existing paralysis. ■ Lord Inchcape foreshadowed a reduction in Suez Canal dues.