A SHIPPING MAGNATE

Hokitika Guardian, 1 April 1930, Page 8

A SHIPPING MAGNATE

LOAD KYI.SANT’S DIRECTORATES. LONDON, March 14. Lord Kylsa nt, the shipping magnate to-day forecasted the formation of a giant shipping combine. Replying, at the annual meeting of Lamport and Holt, Ltd., to a shareholder who asked him how he could expect to give the company efficient service as chairman and managing director when he was the chairman or a director of 40 companies, Lord Kvlsnnt replied that he did not consider 40 too many.

“I am a director of a bank , of a railway company, and of a shipping company,” he said. ‘‘The remainder are all shipping concerns which I regard as one, and if I am spared for a feu more years T hope to see them one—such a company as Britain need not be ashamed off.”

He attributed shipping difficulties to the fall in the market values of Lamport and Holt’s shipping investments, to the world-wide depression in trade and industry, the Wall Street crash, and 'he fall in commodity prices. ‘ He thought that the slump, which had lasted since 1920, showed signs of ending. -

Lord Kylsant, who is 67 years of age and owns over 6000 acres in Carmarthenshire and Pembrokeshire, is chairman and managing director of the Royal ATnil Steam Packet Company, the White Star Line, the Union Castle Line, and their associated companies, which include the Aberdeen Line, into which the Australian Commonwealth Line was absorbed. He is also chairman of Harland and AVolff, Ltd., tho Belfast, shipbuilding firm, and director of the Southern Railway and of the Midland Rank.