SHIPPING COMBINE.

Sun (Christchurch), Volume IV, Issue 1031, 1 June 1917, Page 8

SHIPPING COMBINE.

UNION COMPANY AND P. AND 0. TERMS OF THE AGREEMENT. EFFECT ON PRICE OF SHARES. By Cable.—Press Association. — Copyright, "The Times'’ Service. LONDON, May 30. An agreement has been reached between the Peninsula and Oriental Company and the Union Steam Ship Company of New Zealand for a fusion of interests. The Peninsula and Oriental issues to Union Company shareholders 10/- of their deferred stock, while paying 30/- cash for each ordinary Union Company share, representing over 60/- for each Union Company share at present Peninsula and Oriental quotations, while considerably improving the return per share. Union Steam Ship Company shareholders have been circularised for reply before June 0. PRICES RISE ON REPORT OF FUSION. Aud-raUm and N.K. Co Ms Association. LONDON, May 30. I The Union Steam Ship Company’s shares rose 1/6 as the result of renewed rumours regarding the-ab-sorption of the company in another shipping concern. LONDON, May 31. Union Steam Ship, 51/- to 53/-. I ,V Press Association message from Dunetiiu confirms the above cablegram.] ■ EFFECT IN THE DOMINION. FIRM MARKET AT DUNEDIN. Press Association. DUNEDIN. June 1. On the Stock Exchange Union Steam Ship shares were placed on offer at 60/-, with buyers offering 50/-. A sale is reported 50/3. Huddart Parkers, evidently in sympathy, showed a sharp rise and .sales were effected at 20/G to 31/-..