Disposal Of Shares In Ferry Company When Harbour Bridge Is Built
AUCKLAND, Last Night (PA‘.— Government consideration is being given to an offer by the Devonport Steam Ferry Company, Ltd., to sell its shares to the Auckland Harbour Bridge Trust as soon as the trust is established by legislation this session. The offer is an alternative to the present proposal for a Government-ap-pointed tribunal to consider a guarantee of compensation to the company when the bridge is built. It is understood the trust would buv the shares at the price fixed by arbitration and that any residual loss would fall on the company. This week two gains have z occurred in the company’s shares on the Auckland Stocx Exchange. On Wednesday they rose from £1 7s 6d to £1 10s. and today they increased to £1 Ils 6d. At present both schemes, the straight-out purchase and ultimate compensation, are being considered bv the Government which, earlier this year, announced its intention of appoidnting a compensation tribun'/
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Wanganui Chronicle, 7 October 1950, Page 6
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166Disposal Of Shares In Ferry Company When Harbour Bridge Is Built Wanganui Chronicle, 7 October 1950, Page 6
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