SHIPPING FUSION.
(Per Press Association. —Copyright.)
MR RUSSELL’S VIEWS.
WELLINGTON. June 24
Commenting on Sir James Mills’ cabled statement, regarding the Union Company, Hon G. W. Russell says ho is satisfied that if they are given a satisfactory,, financial scheme, the people of New Zealand would favour th e State -assuming the place of the P. and 0. Company, and making the Union Company a national concern. . Th e fusion of the two Companies’ interests, ho believed, had not yet been completed, and the full Cabinet will meet early to discuss tho position. .-Mr Russell said ho realised the union lirfd not carried <nir produce to the Mother Country, but with all its offices and equipment established, and the' addition of ten or twenty State difficulty, and competition mnyV.lw necessary to steady freights. If the control of the Union Company was allowed to pass to the P. and 0. we should have to fight that company as well as the, Union Company if the State should embark in shipping enterprise. The Minister said ho waited to emphasise that point, and also quoted the precedent of Government intervention in the case of the Bank of Non Zealand, which resulted beneficially to both parties.
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Hokitika Guardian, 26 June 1917, Page 3
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202SHIPPING FUSION. Hokitika Guardian, 26 June 1917, Page 3
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