THE FEDERAL MAIL.

Rangitikei Advocate and Manawatu Argus, Volume XXXI, Issue 8759, 9 March 1907, Page 2

THE FEDERAL MAIL.

Press Association—Copyright.

London, March 8,

Mr Eeardmorc, in an official statement, says ho retired from the mail syndicate by his own act, and not because he was approache.d by any other organisation. Ho joined the concern on the distinct understanding that the Commonwealth Government and Commonwealth capitalists would give substantial support, As that is not forthcoming he and other members of the syndicate agreed to guarantee preference and ordinary shares if debentures amounting to only 6G per cent of the cost of the ships had been forthcoming. But no Colonial support or guarantee being obtainable, Mr Beardmore, after waiting half a. year, decided not to keep the berths in his yards any longer for the now vessels.