SHIPPING AMALGAMATION
By Electric Telegraph—Press Association —Copyright. LONDON, May 22. It is officially announced that an amalgamation has been arranged between the Peninsular and Oriental Steam Navigation Company and the British India Steam Navigation Company.
The amalgamtion is subject to the shareholders' approval. It provides for the exchange of tlie British India Company's ordinary shares for 33% of the P. and O. Company's deferred stock and of preferred stock at cent
per cent. The companies are to work as separate entities. The P. and O. Company*s directors will join the British board, and vice versa, when the, amalgamation is completed. Interests in the two undertakings are to be in all respects identical.
SAFEGUARDING THE SEA ROUTES. Received 5.5 p.m. LONDON, May 23. The Daily Telegraph, commenting on Peninsular and British India Shipping Companies, says they have a capacity for fighting competition, and adds that they have histories whereof they may be proud. Meanwhile the problem of Britain's safeguarding the sea routes in the Mediterranean and the East is becoming urgent. Our manner of solving or failing to solve the problem may decide the future of our rule and commerce, besides vitally affecting our position in the Persian Gulf, whence the navy is secure.
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Bibliographic details
Manawatu Times, Volume LXXVIII, Issue 12800, 25 May 1914, Page 5
Word Count
203SHIPPING AMALGAMATION Manawatu Times, Volume LXXVIII, Issue 12800, 25 May 1914, Page 5
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