THE R.M.S.P.

Hawke's Bay Tribune, Volume XXI, Issue 279, 9 November 1931, Page 8

THE R.M.S.P.

REORGANISATION SCHEME. London, Nov. 6 It is authoritatively stated that no further negotiations are contemplated and that the White Star is now expected to continue as a separate entity. The drastic economies necessary are being effected to meet present conditions. The “Shipping World” states that an R.M.S.P. scheme of reorganisation has been completed. In contradistinction to Lord Kylsant's contemplated merger of ah tonnage under his control with a capital of £200,000,000, the trustees have decided to adopt decentralisation on a geographical basis, forming smaller groups with a holding company concerned in larger matters of finance. The .arious groups will deal with the Atlantic, Son'll America. Australia and New Zealand, also South-west and East Africa. Coastal shipping will constitute an independent group, like the Glen line in the Far East. Each of these companies will be controlled by a management which has specially studied the needs of the particular trade route. Mr. Runciman’s Cabinet appointment involves his retirement from tlm trusteeship. He points out that the situation will be greatly improved if the White Star negotiations with the Cunard are successful.