THE CORINNA.

Taranaki Herald, Volume LX, Issue 143786, 9 May 1912, Page 6

THE CORINNA.

The Corinna is expected here tomorrow morning from southern ports with about 750 tons of general cargo to land. THE RIMUTAKA. The Rimutaka (7952 tons) is at present loading iu the Waitara roadstead for Loudon. “SHIPPING KING.” Sir Owen Phillips, a well-known shipping man, outrivals J. P. Morgan as the “Shipping King,” by the union of the Royal Mail Steam Packet Company and the Union-Castle lino. I/ord Pirric, who is heavily interested in shipping lines, is a good second to Sir Owen, The latter, called the “Napoleon of the Sea,” is 6ft. 7in. high, 48 years old, the third son of a baronet, and from 1906 to 191.1 was in Parliament. He is now at the head of the greatest mercantile fleet which any man has ever controlled. It comprises 280 vessels of 1.287,950 tons aggregate capacity, and is made up of seven lines: Royal Mail, Pacific Steam Packet, Elder Dempster, Lamport, and Holt and Castle. The Royal Mail owns the Shire line, the Glen line, and the Brazilian Lloyd. The new combine covers the whole of South America and the West Indies, has a share in the trade of Australia, competes with the Peninsular and Oriental the trade of the East, and is now out for Africa. An arrangement has been made whereby the Union-Cas-tle directors will retire. As each resigns he will receive £3OOO as compensation for the loss of office. Lord Wolsoley and Lord Sclborno are on the list. The Union-Castle shareholders got a bonus of £700.000, it is reported, and £50.000 is put into the employees’ pension fund.

The new shipping combine is likely, it is said, to attract the attention of the '‘trust busters’ 5 at Washington, because it diverts to Europe a great amount of West Indian and Smith American traffic which Congress is trying to capture through the reciprocity agreements with Latin America. Although it is early for a forecast there is already a good deal of expressed speculation in London ns to the effect the Phillips-Pirrie and oilier AngloAmerican shipping combines will have in the traffic development of the Panama Canal. The piercing of the Isthmus is expected to revolutionise transoceanic trade routes. —Sydney Sun.