THE SHIPPING DEAL.

Stratford Evening Post, Volume XXX, Issue 79, 6 July 1916, Page 8

THE SHIPPING DEAL.

! DISCUSSED BY N.Z.S.C. MANAGER Per Press Association. Christchurch, July 3. Speaking of the proposed shipping deal between the P. and 0. Company and the New Zealand Shipping Co., Mr A. W. Bennett, general manager in New Zealand for the New Zealand 'Shipping Company, remarked to-day that the benefit Which shareholders in the New Zealand company would derive, should the proposal be accepted, would be that the P. and 0. Company paid lo per cent, dividend on its £lO shares, whereas the New Zealand Shipping Company was paying 8 per cent, it was one of the conditions of the proposed arrangement that 70 per cent, of'the shares were thus transferred: The New Zealand Shipping Company thought that the arrangement if carried out would be beneficial to the Dominion, inasmuch as the [P. and 0. Company owned 59 oceangoing steamers and it had controlling [powers similar to those it now sough!/ over the British-Indian Steam Navigation Company, which owned 34 largo I steamers. There would therefore always be a possibility of additional tonnage coming into this trade should it be required. A meeting of directors of the New Zealand Shipping Company was held to-day, but only formal business' was transacted pending the circularising of shareholders on the question.