WHITE STAR LINE.

Otago Daily Times, Issue 19904, 25 September 1926, Page 10

WHITE STAR LINE.

PURCHASE NEGOTIATIONS ABANDONED. (Feom Opb Own Coebespondekt.) LONDON, Juy 30. On April 23 the announcement was mad* that a cash offer for the White Star Line, the shares of which are held by the International Mercantile Marine Company, had been received from certain British interests. _ It subsequently became known that the principal shipping interest* in the British syndicate which made th* offer were Messrs Furness, Withy, and Co. It is now announced that, owing to present circumstances and conditiops, the negotiations for the purchase of tEe Whit* Star Line have, by mutual consent, been terminated. A statement identical to that issued in London was published in New York. According to one message from New York, further information from London was being awaited there. It is likely, however, that, as in the case of the previous negotiations, a certain amount of reserve will be maintained. The negotiations were interrupted by the general strike, which occurred when much remained to be done before the proposed transaction could be carried through, and the continuance of the coal stoppage has undoubtedly been a disturbing factor. It was clear that the first announcements respecting the negotiations wer* issued when only the broad lines of an agreement had been decided upon, leaving many important details to be determined. The latter, it appears, have proved a stumbling block to their successful conclusion, and the White Star Line will remain a British company, with all its ships registered in this country and flying th* British flag, but with the financial control still with the International Mercantile Marine Company of New Jersey.