N.Z. SHIPPING COMPANY

Nelson Evening Mail, 6 July 1916, Page 2

N.Z. SHIPPING COMPANY

(United Press Association,) _ CHRTSTOHUECH, July o. ' ; Speaking of tfca- proposed' sliippi nig deal between, the iP. and' 0. Company and 'tOie New Zealand - 'Shipping -Coaip.niy, _ 'Mr A. W. Bennett, general -manager an New Zealand for '.the- 7 Nerw -'Zeaj landl Shipping Company, : remarked that, the -benefit which shareholders in the New Zealand Company would derive j should the proposal b? wiccepted- would | be thait the P; andl O. 'Company paid 15 | pei" cenifj. dividend-.- on its- £3s shores, i whereas thy New Zealand Shipping i Company was paying -8 per .cent. It [ was one of the conditions of the pro--posed arrangement that 76 per cent, of the shares.' were transferred-. ' The New Zealand Shipping- Company- tho light ! that tiha errarigoment- if: carn-ied oat, would be beneficial to the. Dominion;, iniasmueh, as - the; P. and' 0. Company ovrned-. '53 ccean-goiii'g- steamers and '-it. hiad -controlling powers similar to' thoseit now s-oraghit over ths British India' •■Steam 'Navigation Company, which ©vvnu ed '»34t Tiaa?/re -steaimeisv There would ■therefore;' always be a possibility of addition/all torara.ge -conning into this trade ehouid it .be required. ••••*» . ; , : CiIiRTST'CIHIJRC IT. J.rJv 5. A circular has hsett issued by the New Zealand Shipping Company to all its sharehoTdieVr?;, offering tiicnii deferred stock of the: P. and. 0. Stesfh- Navigation 'Company in exchange for their holdings im 'the New . Zealand. Shipping' Company. "Tha offer is eondntiouai rupon con/fii-maiaon, by the P. aind- 0. share-, holders and the:. Treas'.uryi. and also uponi holders of -not less: :t'har.i 76 i>er cent, oi '■hire ordinary shares of "the New Zi-alnnd •Shiping Company,-' or such- less amount •as the board- of -the P. and 0. Company' shall' d'etenniti-a, eiffctivejv axtcepbmq the l present offe;r before july 17-th i -Mr Bennett, .'general- nranager of t.he New Zealand Sliapping- Company, saya he anticipates no difficulty- in securing the approval of the shareholders.