GENERAL CABLES

Hokitika Guardian, 16 March 1928, Page 3

GENERAL CABLES

(Australian Press Association & Sun.) Will FLESH-CABLE M ERG ER. LONDON, .March 15. In order to prevent a possible misunderstanding, the directors of the Eastern Cable Company and Marronis have issued a further .statement signed by Plunder and Garnsey on their behalf, namely,—The directors of both companies recommend arrangement for fusion through the holdings of the Company. The arrangement should la. dependent on an agreement being made with the British Government and the Government of the Dominions and Indin which will be satisfactory to the Eastern Company and .Marronis. Blender and Garnsey append broad outlines for the proposed allocation of capital ol the new holding romptny as lollows —l'ivo and a-hall per cent c umulative shares at tills each, twenty millions to the Eastern company and 3,500,000 to .Marconi, a total of 23,500,01)0. Seven and n-half per cent non-ncoumulutive A ordinary shares 20s 13,200.000 to Easter id 8,000,000 to .Marconis, total 21,200.000. li ordinary shares 20s, 3,lot),(100 (equals 35 per cent) to Eastern and 5,850.000 (equals 05 per cent) to .Marconis, total nine million. Votes are allowed holders of A and li shares in the following proportions— Eastern 15.300,000 (equals 50.25 per cent), .Marconi 11.000. The new company would acquire from Marconi the whole of its ordinary, preference, and debenture capital, which would be satisfied out of the foregoing considerat’ n ' and acquired from the Eastern the • ' whole of the ordinary shares, leaving ' preference and debenture issues undisturbed. Eastern would nominate 1 twelve directors and .Marconis eight. c tailors shocked. ' LONDON, March 9. 1 Because the Prince of Wales wore 1 cuff trousers with his morning coat * at the Mansion House, Savile Row, * tailors are in a state of incredulity c bordering on semi-paralysis. They can scarcely believe it. One well known s tailor said the Prince had light-heart- 1 edly brushed. aside a tradition exist- ' ing since the world began. 11 Another declared there could only t; be one explanation. The Prince made a mistake either with his trousers or s ‘ with his coat. All agreed that he » was quite wrong sartorially and they P hoped and prayed that men of fash- P ion would not follow the dreadful ex- >' ample. s< ./ HELP FROM SKIES. ST. PAUL (U.S.A.), .March I). <■" For the first time one record an K aeroplane has pulled an automobile w out of a hole. Two city men were crossing the ice by motor car near ci the village of Stockholm, Minnesota, hi when the wheels broke througn the P ice in a shallow place. An aeroplane pi passing overhead saw its plight and a descended, landing on the ice. A hi chain hooked from the ’plane’s tail S' pulled the car hack to safety. rc WHITE SLAV® TRAFFIC. A LONDON, March 9. ec Heavy penalties to fight the white U slave traffic nr© forecast in a hill which w Lord Pnrmoor is to introduce in the A House of Lords. Every class of offence fo is covered, but although terms of ini- a< prisonment are increased, flogging has tli been abolished for offences which pre- de viously included that penalty. ec Penalties provide seven years for nc attempt to procure within or without st the realm ,also procuration by fraud of and intimidation. Keepers of undesirable houses are to h© treated as ae- be cessories liable to five years’ gaol and pi a £SOO fine. Imprisonment for five years will be imposed on British subjects marrying id alien women for the purpose of pro- m mirations and the penalty for abduc- le tion has been increased to seven tl years. The Extradition Act is to bo ni 'extended to cover all offences, but no tr alteration is proposed in tlic age of consent. . cc NOTE OF WARNING tl. e> (Australian Press Association it Sun.) AT ex (Received this day at 12.25 p.mA B LONDON, March 15. f e A joint note of warning is issued by G f the Eastern Company anil Marconi to- in ■night, probably designed to correct misleading rumours. One such stated di with some show of authenticity that f n the agreement included a provision for tl their taking over Rost Office Wireless tl and Cables, so that the British Govern- nl ment’s State enterprise In the Exter- q, nal Commission shall cease. It was n< indicated also, that the Dominion Gov- n; ernments supported the change though the rumours seemed unintelligible. Cl A further official statement then !u came at a good time, reference again ex lieing dependent on the agreement n; etc. The latter was. made somewhat ,i ( more explicit by Mr Kelleway who al was asked if the proposed fusion would involve tlio taking over of Government ? wireless anil cables, replied what is merely a satisfactory arrangement with A the Government, is a subject which f - must bo discussed with the Imperial Wireless Conference before further re statements can bo made. Whether the Eastern Coy. and Marconi already for- •»•< mutated proposals for taking over of re Government services is unknown. The utmost secrecy is being observed about Hi this point. Tlie Imperial Wireless f r Commission met in the afternoon and merely received a copy of the state- ; n meat and adjourned till to-morrow m , • when it is expected the principals will indicate the nature of their proposals q, or at least an outline. ti< ■— - sc MURDERER CONEESSFS. (Received this dav at 12.25 n.m.) S q PARIS. March 15. h . After being questioned for twenty hours Irotn 9 a.in. to 4.30 a.in., with f] only brief intervals for meals, the [•, jeweller Mesterino confessed to the murder of Truphene (cabled on Btb j t March. He was exhausted mentally and physically at the close. The police. in two. at a time, took turns in Hinging questions at him. until bis resistance o] was ended. He murmured: ‘ Yes; l Ci( am the man. For pity’s sake give me rest.” He then collapsed. • . Next morning the police took Alesterino to the house in Rue St. Augustin 1 f or the reconstruction of the crime. An a j immense crowd gathered outside and p f was most liostilo, shouting: ‘‘ To I' lo (i guillotine.” li Mesterino confessed that Truphene t demanded money due to him and a '>o- I lent quarrel ensued, in the course of which Truphene was floored, hitting Ins p head on a corner of the table. M ben i, lie recovered consciousness lie shouted ( for help and Mesterino lost Ins bead t ami suffocated him, stuffing a wad of ; cotton in his mouth. He tied up Ins ; body and drove with it away m a s and burned it. He then returned to { Paris where he continued business. A , large part of tlie jewels have been re- . covered. Mesterino did up two pack- ( ages and gave them to bis sister-in-law | V and aunt to keep, neither knowing the t contents. 1 ,:t l AYTRELESS CONFERENCE. i LONDON. March 15. , It is most unlikely that Hie Gov- , ernments will surrender control of beam and cables. It is learned anthoritati vely that a majority of the wireless conference, namely Britain. Australia, Canada and New Zealand

agreed quite irrespective of Marconi and Easterns negotiations or other private enterprises that Imperial Ptteifiee cables shall he maintained at the highest efficiency under the control of the four above named ( tovermnents. ■Hie other three Government delegates India. South Africa and Free State are not. committed hut are not hostile. It is added that the four first named believe the retention of the Vll Red route is necessary in the interests of Government intercourse, inter-imperial trade, finance and cheap speedv transmission. Respecting tlie oil expressed fear that the fusion may result in increased rates, it is stated an increase is iinfikly ns none of the Governments represented at the conference would entertain tlie idea, their aint being to devise "a>s ant means of using the cables and wireless to the fullest capacity with a \ ten to further reducing the rates. I fie conference will give the their «Wrongest efforts to devise means whereby al the services Government and private will effect economies. The delegates hope an agreement between Marconi ! and Eastern will provide a basis for solving this problem