COCKATOO ISLAND DOCKS.

Waipa Post, Volume XXI, Issue 1301, 7 October 1922, Page 6

COCKATOO ISLAND DOCKS.

ENGLISH CAPITALISTS' OFFER

The offer of Cockatoo Island, the naval dockyard of Australia, by an English combine, has been made made through Mr Albert Green, M.P., for Derby, England, who recently arrived in Sydney from America. Should Mr Green's scheme eventuate, it will be of Imperial importance and will affect the whole of Australia and New Zealand also. The combine, according to MtGreen, has an immediate backing of £10,000,000. The principal interests involved are shipbuilding and engineering. In addition, there is a strong backing from cotton and wool people, and general produce merchants who would deal in goods of a'll kinds. The Inchcape shipping interests are not represented in the company. . Mr Green says that even if the Federal Government refuses to part with Cockatoo, the development scheme will go ahead. If the combine succeeds in the negotiations, energies will be devoted first to developing the dockyard on a commercial basis. It is hoped to get Commonwealth an,d private shipbuilding and repairing contracts, and a contract for work for the British Pacific fleet as an after development. Mr Green is a strong advocate ofImperial preference, and he says that the establishment of such commercial relations as he proposed, between a Polish concern and the Commonwealth would do much to further this policy. Possibly the British Government would be asked to assist the company later on; but it wanted to establish itself independently and free of Government control

Opinion here seems to be that the Federal Government would be glad to sell Cackatoo. The New South Wales Government would be only too pleased to dispose of Walsh Island. The idea of one big concern taking over Cackatoo, Walsh Island and Mort's Dock also a good deal of favour. \

Mr Green will return to England later on, but if he floats the • enterprise, probably he will come back to reside in Australia.