New Liners for Pacific Service
AGAIN NECESSARY TO POSTPONE ORDERS Per Press Association. WELLINGTON, July 21. The Union Steam Ship Company of New Zealand announces that it was reported to a meeting of the CanadianAustralasinn Line principals and Sir Edward Beatty and Mr. N. S. Falla in London yesterday that inquiries of shipbuilders showed there was no reduction obtainable at present in the earlier quotations for the proposed two liners for the Sydney-A uckland-Vancouver passenger service. Moreover, the principal shipbuilding yards ure fully occupied. Consequently, it has been necessary again to postpone placing the orders.
also evident that there was an abnormal overflow of capital. The report then comments, ‘ ‘ln view of the relationship between internal credit expansion and the demand for overseas funds’, the connection between the total increase of more than £14,000,* 000 iu the accommodation granted by the Reserve Bank to the Government, and the loss of overseas funds which occurred during the year, is significant.”
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Bibliographic details
Manawatu Times, Volume 64, Issue 171, 22 July 1939, Page 5
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159New Liners for Pacific Service Manawatu Times, Volume 64, Issue 171, 22 July 1939, Page 5
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