SHIPPING LINES

Otago Daily Times, Issue 22137, 15 December 1933, Page 11

SHIPPING LINES

CUNARD AND WHITE STAR MERGER NEGOTIATIONS (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, December 13. In the House of Commons Mr Neville Chamberlain (Chancellor of the Exchequer) stated that as the negotiations justified the assumption of an early ftorth Atlantic merger with the Cunard and White Star Companies, the Government would shortly submit proposals to finance the completion of the suspended giant Cunarder. ‘ PARTIALLY-BUILT CUNARDER. GOVERNMENT ASSISTANCE. (British Official Wireless.) RUGBY, December 13. Financial assistance from the Government to enable the completion of the partially-built giant Cunarder was promised by the Chancellor of the Exchequer. Questioned as to the progress of the negotiations between the Cunard and the White Star Lines, Mr Chamberlain replied: “I can say that the difficult and complicated negotiations, conducted with great goodwill on all sides, have 1 reached a stage at which the Government feels justified in assuming that an effective merger of the North Atlantic fleets and the Cunard and White Star will become an accomplished fact at an early date. It is the intention of the Government in that event shortly to lay before the House proposals for furnishing the ■ necessary financial facilities for completion of the new Cunard liner. Not only will these proposals have to come before the House, but the consent of secured creditors in both cases will have to be obtained. As everyone is anxious to get on with the. work I believe that there will be no undue delay.”

NORWAY AGAINST SUBSIDIES. OSLO, December 13. “ Subsidies are the wrong instruments to stimulate world trade,” declared Mr A. H. Mathieson at the annual meeting of the Norwegian ship-owners. He denied that the Norwegians required subsidies and regretted the British shipowners’ agitation, HOUSE OF COMMONS DEBATE. LONDON, December 13. ‘ (Received Dec. 14, at 5.5 p.m.) In the House of Commons Dr J. W. Leech (Con.) said that Britain had lost her proud position since the time when nearly half the shipping of the world flew the red ensign. Her tramp shipping had been reduced by 50 per cent, since 1914, and foreign had increased by onethird. The Government had rescued the heavy industries substantially by tariffs and, it should similarly rescue shipping. ..French subsidies to shipping and shipbuilding in 1932 amounted to, £4,000,000, Italian subsidies to £5,000,000, and the United States subsidies to Mr Neil Mac Lean (Lab.) moved an amendment demanding reorganisation of shipping and ship-building under Government control. Mr Runciman would make an admirable controller. Mr Runciman said that Labour’s suggestion could be ignored, as the experience of the United States and Australia, was sufficient to dismiss; the idea of Government ownership. ; J ='■ s Mr Mac Lean’s amendment was negatived by 221 votes to 34; s The debate was adjourned.