OUR SHIPPING TRADE.

Manawatu Herald, Volume XLII, Issue 2178, 18 September 1920, Page 2

OUR SHIPPING TRADE.

NEW SHIPPING COMPANY TO BE FORMED. .V meeting of business men convened by the Palmerston N. Chamber of Commerce was held on Thursday afternoon to consider the advisability of (hintin" a company to purchase a vessel tor the Foxton trade. At a meeting of the Chamber on Tuesday the chairman of the Harbour Board, Mr J. Linklater, slated that an option had been secured over a steamer for ft),000. The vessel is the Exeella, of 185 lons burden, at present in Hobart. It was then decided to endeavour to interest business men in the venture, and accordingly a meeting was held on Thursday. Mr H. B. Young presided, and there were also present : Messrs M. Ji. Oram, A. Hopwood, N. 11. Sinclair, J. Ireland, L. 11. Collinson and •!. Linklater. In reference to having the vessel inspected by an ('Xpert, Mr Linklaler slated that Lloyd’s surveyor in Hobart had been cabled to and asked to make a thorough inspection of the vessel and cable the result. Mr Linklater added that he had gone into the matter of running expenses with the board’s engineer, Mr diekell, and had found that at eight trips a month there would be a substantial profit.

Mr Sine-lair: It lias been said that t!ie Kennedy has not made a penny. The chairman replied that if the trade was properly worked up the steamer would pay. It could be hardly expected that the boat would pay well for a start, but it would have to be put on the running regularly to recover t lie* traille. Mr Sinclair brought up the matter of rough handling of goods at Foxtoii. especially in regard to benzine. The damage to eases of benzine at Koxiou was so serious, lie said, that marcimnts found it better to have the stuff railed. Mr Linklater replied liml a man had been put on to supervise the, loading, and shed accommodation had been greatly improved. Mr Sinclair said that if business men could be assured (hat material would be carefully handled at Foxion there was no doubt that the whole of the benzine traflie would

yo by sea. Air Linklaler made further assurances of the Board’s earnest desire (o provide yood shipping facilities al the port. A dredye was beiny creeled lo (dear (he bars, and within six months, he hoped, there would be a safe and clear waterway for coastal boats.

Air Sinclair: Yon yive, us the port, and we will yive you the yood*. The financial aspect was then approached by the chairman. He staled 1 htit a capita! of i'20,()()() would he repaired, of which ,CII2,(HM) or .£■];),- UUI) would have lo In* paid up. This wtts tacitly ayreed to. and il: was mentioned that the company would mil necessarily he formed for the purchase of the Exeella. Jt niiyht lie found that she would not lie satisfactory. in that ease the money would he reserved for a vessel lhal would suit.

It was eventually ayreed that Mr E. Gran) Sim he approached and authorised lo raise the capital.