SUBSIDISED SHIPPING.
ORIENT CHAIRMAN’S PROTEST. SERVICE AT PUBLIC COST. LONDON, December 20. Speaking at the annual meeting of flic Orient Line, the chairman, Sir Alan Anderson, said: ” Among the world causes of our depression is that otic nation after another is giving enormous subsidies to dumping shipping services on the world with the apparent object of ruining shipowners who try to make ends meet. The Matson Line, by placing on the San Francisco-New Zealand-Australia run three new vessels whose capital cost and running expenses are much greater than, judged by past experience, the trade will repay, is competing with a British line which cannot dip into the public purse and is unable to offer the public such costly vessels. If the Matson Line had found 25 million dollars, and if they themselves were charged normal rates of interest on that amount or were in any serious risk of having to pay for the eventual loss, we might blame them for" gambling, but sis a grateful nation is taking the risk, we must congratulate them on being safe men, not gamblers.”
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Bibliographic details
Wairarapa Age, 22 December 1932, Page 6
Word Count
180SUBSIDISED SHIPPING. Wairarapa Age, 22 December 1932, Page 6
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