SHIPPING COMPETITION.

Patea Mail, 14 May 1881, Page 3

SHIPPING COMPETITION.

It is no longer a secret that Captain McGregor’s intended competition!!! thePatea steam trade has been bought up. The Union Company have completed a bargain by which they abandon the Auckland trade north of the East Cape on one side and north of Waitara on the other side. A new Auckland company is formed to take over Captain McGregor’s interest northward of these points ; and the two companies will thus have a practical monopoly within the coastal ranges agreed on. The new combination is called the Northern Steam Shipping Company of New Zealand (limited) ; with a capital of £150,000 in one pound shares. The Union steamers arc to take (if they can) the North Island trade along this coast. Boats suited for bar rivers are being built, and Wanganui is to bo connected with the Union sj T stem at an early date. Patea is likely to be included as soon as the new ready. Will the district gain or lose by this shipping combination ? Captain McGregor’s scheme for this harbor was to run a steamer in the Wellington trade at 10s a ton. Of course that is a doubtful figure. His new steamer was to have a water-tight compartment for filling with water ballast at sea, to keep her low on the keel and give the screw increased grip ; the water being pumped out by steam power to raise her before crossing a bar. The idea is good, though it has long been familiar to marine engineers at Home. It is clear that Patea must soon be connected with the chief colonial ports.