NEW ZEALAND SHIPPING COMPANY. THE RECENT CHANGES. INTERVIEW WITH E. S. DAWES.
Our London correspondent writes : — I had a very pleasant talk on Wednesday with Mr E. S. Dawcs, the millionaire shipowner, whose acquirement of Sir William Pearce's interests in the New Zealand ShippingCompany has created such a stir in AngloAustralian city circles. Sir William had a mortgage of £250,000 on the Company's steamers, and 10,000 shares, for which he gave £80,000. Mr Bamwell, his executor, offered these to Mr Dawes, who asked a fortnight's grace to think over the matter. Ultimately, however, he purchased the interests for £390,000. The New Zealand shipping directors profess to consider themselves injured because Mr Bamwell failed to give the Company the option of buying up the mortgage, etc. This, however, is a little " thin," as 'tis perfectly well known they couldn'thaveavailed themselves of the offer had it been made. As a matter of fact, indeed, had Mr Dawes not purchased the shares, etc., they would havebeen beinghawked about the City now. When the news of Mr Dawes's purchase leaked out, general consternation prevailed, it being supposed that he meant to wreck the Company, or attempt an amalgamation with Shaw - Savill's. MY Dawes assures me there is tno a word of truth in i these statements. Instead of inaugurating a wrecking policy, he means to do his best to recover the Company's good name and make it pay. The frozen meat) trade, more especially,, Mr Dawes means to force as powerfully as he can, and should the Imperial and Colonial Trading Company come to anything, the New Zealand Shipping Company will throw down the gauntlet, and challenge them at every point. Mr Strickland has been reinstated as manager, but Tysers are retained as the Company's broker.". Mr Dawes has, of course, taken a seat on the Board, and will no doubt henceforward be the moving spirit in the Company's affairs. With Shaw Savill he proposes to work amicably, but no thought of amalgamation ever entered his head. That Mr Dawes's connection with the Company bodes good to the shareholders is to be seen from the lise in the price of New Zealand Shipping etock, which has jumped from 45s to 65s since the facts leaked out. Personallyi I am inclined to beliove in Mr Dawes. There is a practical vigour and force about the man that is contagious.
The election of President Cleveland signified the displacement of Republican functionaries by Democrats as follows :— 2,000 postmasters out of a total of 2,359, 32 foreign Ministers out of 33, 16 secretaries of legation out ot 21, 139 consuls out of 219, 84 revenue collectors out of 85, 65 law officers out of 70, 40,000 postmasters of ihe fourth class out of 52,609, &c. President Harrison is understood to contemplate the reversal of all this and move,
NEW ZEALAND SHIPPING COMPANY. THE RECENT CHANGES. INTERVIEW WITH E. S. DAWES.
Te Aroha News, Volume VI, Issue 370, 22 May 1889, Page 5
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