SHIPPING COMBINE.

Dominion, Volume 5, Issue 1440, 15 May 1912, Page 7

SHIPPING COMBINE.

P. AND 0. TO BE BOUGHT OUT. By Telegraph—Press Association—Copyright. London, May 13. The "Manchester Guardian" has reported that a group is endeavouring to arrange a combine between the Orient Steam Navigation Company, the New Zealand Shipping Company, the British-India Steam Navigation Company, aiul the Union Steam Ship Company of New Zealand, and that nn offer to buy tho Peninsular and Oriental Steam Navigation Company's fleet will follow the arrangement.

NOTHING KNOWN LOCALLY. (By Telegraph-Press Association.) Christchurch, May 14. Representatives of the New Zealand Shipping Company hero say tliat they have heard nothing so far re the amalgamation scheme cabled to-day. They arc inclined to ridicule tho scheme, as they hardly imagine that any of the great financiers are strong enough to acquiretho companies named.

MORE SHIPPING CHANGES. Tho "Manchester Guardian" of April 4 had the following:—

Rumour is still busy arranging new shipping combines, one of the latent reports being, I hear, that the Union Steam Ship Company of Now Zealand, which runs a subsidised mail swvico between Wellington and Vancouver,' as well as other trans-Pacific lines, is about to l)o taken over by the P. and 0. Company, though the Canadian Pacific Railway and a recently-formed syndicate are also mentioned in this connection., Moreover, it is said that the New Zealand Shipping Company, whoso vessels make use of the Capo ■route, has bought the Ilouldcr lino interest in the Australian trade, and that Messrs. Fiirncss, Withy, and Co. are to take over the Federal line's River Plate steamers with a view to developments in the Argentine meat trade. Ono of tha most interesting deals during the past few days was the purchase - .by -I-.rhe BritishIndia Company of the fleet and goodwill of Messrs. Apcar and Co., Calcutta, whoso business in Far Eastern waters was established in the early 'forties, when their brigs and schooners carrying opium had to fight their way through tho pirateinfested .Malacca Straits to China. It is not likely that all the '4'malgamation schemes will materialise, but the fact that they are so plentiful is at any rate evidence of great shipping activity. Indeed not for years have there been so many transactions in steamship .shares, certainly not since Mr. Pierpont Morgan formed his famous combine.