THE MAIL SYNDICATE.
THE APPLICATION FOR A GUARANTEE. HOSTILITY OF SHIPPING COMPANIES. By Telegraph.—Press Association.—Copyright. , (Received May 30, 9.56 p.m.) London, May 30. \ Mr. Potter, a, member of the Australian Mail Syndicate, confirms the statement already cabled that! if any two or more of the Australian States will guarantee the debentureholders an annual payment of £125,000 for 10 years, representing interest and sinking fund on the syndicate's outlay, the syndicate will pay those States £5000 a-year as a kind of insurance premium, the States making this payment to have first call on the refrigerating space in the steamers.
He also says: "We have forced our way through the ■most' formidable and relentless opposition of the shipping companies opposed to the new mail scheme, whose interest it is to hold back the progress of Australia's shipping, the better to conserve. Jts selfish shipping monopoly, to the detriment of Australian pro-j duce?rs and the travelling public. My offer now before Australia not only safeguards the States joining |in the interest guarantee, as the money payment offered can be used for the purpose of insurance, but tends to the great betterment of their producing, commercial, and other interests in every way. A plain proposition, fraught with great national prospects, now awaits an answer."
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Bibliographic details
New Zealand Herald, Volume XLIV, Issue 13452, 31 May 1907, Page 5
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210THE MAIL SYNDICATE. New Zealand Herald, Volume XLIV, Issue 13452, 31 May 1907, Page 5
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