THE SHIPPING COMBINE

New Zealand Times, Volume XLII, Issue 9694, 23 June 1917, Page 8

THE SHIPPING COMBINE

NO FURTHER DEVELOPMENT. Inquiries were made yesterday by a reporter of the “New Zealand Times” regarding the fusion of the interests of the Union and P. and O. Companies. When interviewed, one of the principal officers of the Union Company stated that there had been no further developments since the previous day’s report. PersonaiUy, he did no(t think that tho Government would interfere with the “merge.” Tho bulk of the share capital was held in Great Britain, therefore the New Zealand shareholders would bo outvoted if an organised attempt were made to prevent the amalgamation, which he did not think was at all likely. Tho public of tho Dominion would be as well served under tho joint control, if net better than at present. . Another shipping magnate said that if the Government had any serious intentions of taking over the Union Shipping Company’s "fleet of steamers, it was not desirable to delay the matter too long, as already three of the largest vessels had been lost to New Zealand. ' NEW ZEALAND SHIPPING. GOVERNMENT NOT INACTIVE The Hon. G. W. Russell (Minister for .Marine), replying yesterday to a question, put to him by a “Times” representative, said that he could make no statement with regard to the two hillion-dollar shipping merger beyond saying that the Government had not beenTnactive in tho matter. DUNEDIN SATISFIED. Frees Association. DUNEDIN, Juno 22. There S' much satisfaction locally over tlve cabled assurance by Sir James Mills that the fuson of the Union Company and the P. and 0. Company will not materially affect the general position of 'the Union Company, nor the methods of management and shipping services. Especial satisfaction is felt over the emphatic statement that the iiiveve.-t.s ot the Dominion will bo conserved, and that the headquarter:,’ control will be. affected* t „ --