NEW ZEALAND SHIPPING COMPANY.

New Zealand Herald, Volume X, Issue 3625, 24 June 1873, Page 3

NEW ZEALAND SHIPPING COMPANY.

To the Editor of the Hebald. Siii, —In your issue of this date you devote a short leader to the New Zealand Shipping Company, some portion of which is calculated to produce a false impression, aud I therefore crave the favor of your insertion of this letter. The capital of the New Zealand Shipping Company has been increased to £250,0.00, and not £25.000 as stated by you. Ido not know the precise present position of the Auckland Freight Company, but on all hands it seems to be acknowledged as a failure, and to any one having a knowledge of the constitution and working of the company the result is not a matter of surprise. Allow me, however, to take exception to the following portion of your leader. " There was an opportunity for establishing a company that would have been worthy of the colony; that chance ia lost. Lyttelton will become the great importing depot of New Zealand, &o." The above has evidently been written under a total misapprehension of the objects of the New Zealand Shipping Company, which, although originated in Cbristchuri-h, is intended be as much for the benefit of the whole of New Zealand. The freight companies formed in Dunedin aud Wellington have merged into the New Zealand Shipping Company, and the ports just named will have as much the benefit of the New Zealand Shipping Company as will Lyttelton. The same opportunity iB open to Auckland, and it will be very much to be deplored if advantage is not taken of it. If we decline to throw in our lot with the other chief importing centres of New Zealand, we will ere long see the trade of the other provinces, with all the advantages of a Co-opera-tive Shipping Company, gradually absorb the business whicli should belong to this, the leading province in New Zealand, while we, remaining under the baneful influence of Messrs. Shaw, Saville and Co., will have the profits of our trade diverted into the pockets of that astute firm instead of into our own. I pray you let it bo known that the New Zealand Shipping Company is not established for the benefit of any one port or province. It is essentially a national undertaking, and it is to be hoped that no peity feelings of jealousy at the company not being originated here will debar the mercantile community of Auckland from giving it their hearty support. —I am &c., One Intekested. June 21,1873.