THE UNION COMPANY.

Waimate Daily Advertiser, Volume XVII, Issue 673, 27 August 1917, Page 3

THE UNION COMPANY.

Per.Pr©£® Association—GOpy/ight. ; ■ WELLINGTON, June 25, Commenting on Sir J v . Mills’s cabled statement regarding the Union Company, the Hon. ,G. W. Ru,ssell says ho is satisfied that, given a satisfactory financial scheme, the people of New Zealand would favour the Stale assuming the place of the?, and 0, Company and .making the Union Company a national concern. The Government had not been inactive, and the fusion of the (wo companies’ .interests, lie believed, had not yet been completed. The full Cabinet would meet early tO ; discuss the position.

Mr Russcdl said he realised that the Union Company had not carried our products to the Mother Country, but Avith all its offices and equipment established, in addition to 10 or 20 State-owned steamers, this Avonld present little difficulty, and competition may be necessary to steady freights. If the control cf the Union Company is allowed to pass to the P. and 0, avg' should have to fight that company as well as the Union Company if the Slat' 1 should embark in a shipping enterprise, The Minister said ho wanted to emphasise that point. Ho also quoted the precedent of the Government intervention in the case of the Bank of Now Zealand, which had resulted so beneficially to both parlies.