The Daily News. TUESDAY, JUNE 5, 1917. THE SHIPPING OCTOPUS.

Taranaki Daily News, 5 June 1917, Page 4

The Daily News. TUESDAY, JUNE 5, 1917. THE SHIPPING OCTOPUS.

The news that the Union Steamship Company of New Zealand is to be merged into the P. and 0. Steamship Company, which in turn is to form part of a huge pool of British shipping companies, is calculated to make the people of New Zealand rub their heads in wonder as to how they are going to fare in the matter of shipping freightb in the immediate future. The Union I Shipping Company is an institution which has grown with the Dominion and become an integral part of it, so that any change in ownership or managership is almost as much concern to the public as to the shareholders. The latter cannot bo blamed for making the best deal they can for themselves, but it is safe to say that the public would much rather the company preserved its identity and continued to serve the Dominion with that enterprise that has always characterised its operations. Combines there are in plenty, we all know; indeed, it has been said by one leading commercial magnate that nowhere in the wide world are there so many trade combines as In New Zealand. Shipping is vital to the trade and development of the Dominion, and if the control of that shipping is in foreign hands it is not likely that the country will receive the same service or consideration as when it is in local hands. Under the reported arrangement, the shareholders will receive a bonus of 10s a share. Who will pay it? The combine? Not much. The poor, long-suffering public will have to foot the bill. The war has demonstrated the need for a country situated as New Zealand is having a close hold over its shipping services. Hitherto the Union Company, having its headquarters here, and its principal shareholders located liere, was considered safe from assimilation by the outside companies, but we find that even it is succumbing to the tempting bait offered. The other large companies trading with New Zealand are already in the pool, and it looks as if New Zealand wa» to be left high and

dry so far as controlling 'any of its ships is concerned. Thin is a serious state of affairs, and one that should receive tho prompt attention its importance demands. The producers were alive' to the danger before the latest move was announced. Thoy Had good reason to be concerned because of the tremendous increase in freight charges since the war started. They had decided to form a company of their own after the war, and a committee is now gathering (he necessary data. But it is a matter also for the Government, whicli would be justified in taking over and nationalising the Union Company's interests rather than that ownership should pass into outside hands. The people must in future control their own shipping, just as they control their own railway transportation; otherwise there is grave danger of New Zealand being at the mercy of the shipping octopus that is rapidly getting its (tentacles over the important services of the Empire.