THE UNION STEAM SHIP COMPANY.

Otago Daily Times, Issue 15954, 23 December 1913, Page 4

THE UNION STEAM SHIP COMPANY.

The meeting yesterday of shareholders of the Union Steam Ship Company doubly marked an epoch in the history of this prosperous corporation. It was the first meeting of the company "under the scheme of reconstruction which was lately decided upon and which itself marked the success that has attended the wisely-directed management of the company's business. Arid it was the last general meeting to be attended by Sir James Mills in the capacity of managing director of the company. With the history of the company, from .the time of its humble beginnings as a purely Dnnedin concern with a couple of small packets engaged in a modest coastal service, the name of Sir James Mills has been so intimately associated—he has as a matter of fact occupied the position of managing director from the commencement of its operations— that the change which is now impending in his relationship to the company is one of distinct interest to the general public as well as to those more directly affected. Sir James Mills would himself be the first to disAsim the suggestion that it is he who has made the Union Steam Ship Company what it is—one of the most important shipping companies in the whole world with great trading ramificationshut it would be idle to deny that the company owes its success in very large measure to the masterly skill with , which he has guided its affairs, and to the conspicuous foresight with which he has planned its development. During the past few weeks a good deal has been heard in criticism of the Union Steam Ship Company. . It has been freely denounced in many quarters as a monopoly, as though that were the- last word to be said •in condemnation of any privatelyowned concern, It is, of courso, incorrect to describe the company as a monopoly. The ocean highways are open to any combination of people who choose to build vessels to ply upon them. And in so far as the Union Steam Ship Company conducts the bulk of the carrying trade on the coast of New Zealand and between Australia and New Zealand it is reaping the reward of its own enterprise not merely in providing but actually in anticipating the requirements of the mercantile community and the travelling public. It has built a fleet which by reason both of its dimensions and also of its excellence excites the surprise and extorts the admiration of oversea visitors and is regarded with pride by residents of NewZealand as a striking illustration of the successful management of a colonial business. And while tho Union Steam Ship Company has catered in a remarkable .fashion for the needs of the population, it is to be Temembered to its credit that the treatment which it has extended to its employees has been gratefully acknowledged by thoso who are in a position to speak with authority on the point to be superior to that experienced in most shipping services. The record of the company in every respect is one which completely justifies tho encomiums that were offered yesterday upon the services rendered to it by Sir James Mills, who has during the period of 38 years covering its existence been chiefly responsible for tho determination of the lines that should be followed by it. It is not to be anticipated that the policy of the future will be in any respect different from that of tho past. Sir James Mills is to be succeeded in the office of managing director by Mr Holdsworth, like himself a native of New Zealand, who enjoys a thorough grasp of the company's business and has in evory position wfiich ho has occupied in its service demonstrated the possession of special qualifications for the occupancy of the responsible office that is to be filled by him from the commencement of the new year.