SHIPPING MERGER

Hawke's Bay Tribune, Volume XXIV, Issue 80, 16 March 1934, Page 5

SHIPPING MERGER

Hint of American Action CANNOT AFFECT SCHEME tßritish Official Wireless.) (Received 16, 12.30 p.m.) RUGBY, March 15. The third reading of the North Atlantic Shipping Bill will be debated in the House of Commons to-night. Rt. Hon. Neville Chamberlain, Chancellor of the Exchequer, stated to-day that he had had an opportunity of reading Press reports indicating that the International Mercantile. Marine Company was contemplating action against the White Star merger. He added that the Board of the Oceanic Company had been authoritatively advised that they might legally implement their part of the merger schemes without the consent of the American company. He wished, however, to make it plai n that if a contrary decision emerged as a result of legal action, the parties could attain, by alternative methods which could not be open to attack, precisely the same result as is contemplated by the merger agreement; and such methods would be within the scope of the North Atlantic Shipping Bill in its present form. In these circumstances he was satisfied that no reason existed why the House of Commons should be deflected from its purpose by any action taken by the International Mercantile Marine Company. (Earlier cable appears on page 7.)