AUSTRALIAN MAIL SYNDIGATE.

New Zealand Herald, Volume XLIV, Issue 13487, 14 May 1907, Page 5

AUSTRALIAN MAIL SYNDIGATE.

ASKING FOR DELAY, TEN YEARS' GUARANTEE ASKED FOR. By Telegraph.—Press Association.—Copyright. London, May 12. Sir Joseph Ward, Sir' W. J. Lyric, and Mr. Bent (Premier of Victoria), have had interviews with the directors of the Australian ; Mail Syndicate. . It is understood that the underwriters of the debentures issued by the syndicate require a guarantee that the Federal subsidy, of £125,000, will be paid for ten years, in any circumstances. ■ . Mr. Bent said Victoria would be willing to guarantee that the £125,000 a year would be paid for ten years if her shippers were allowed preference in the shape of reductions in fares and freights. Sir W. J. Lyne replied thai; it would be simply impossible to consider a proposal for one State receiving preference over another. • Mr. Bent said he was willing to" allow any other State to come in on the same terms. Sir W. J. Lyne refused Mr. Bent's offer, and said he was unprepared to give the syndicate a guarantee for ten years without receiving some concessions. He would not do merely for the sake of honour and glory. He is to see Mr. Deakin on the subject on Monday. The syndicate is pressing the Federal authorities for a further delay before the penalties for; non-com--pliance with the contract are enforced. . . • _ Mr. Deakin says he is not indisposed to grant the required delay. Sir W. J. Lyne has sent a telegram to Sir John Forrest, informing him that he is awaiting a, reply from the directors before he acts in the matter of the mail contract.