PACIFIC TRADE.
A SHIPPING ENTERPRISE. MAINTAINING BRITISH INTERESTS. By Telegraph.—Press Assn.--Copyright. Received May 18, 7.25 p.m. Sydney, May IS. At the annual meeting of Messrs. Burns, Philp ajj'il Co., the chairman stated the company was preparing to meet a development in the Eastern trade, and increased requirements under the new Pacific conditions, including direct services between the larger Island groups. It was intended, in order to overcome the dislocation caused by strikes and other disabilities, and to compete with foreign competition, to form a separate Island company, with headquarters at Fiji, where the inter-Island services would centre. Everything possible was being done to maintain Australian and British interests against keen outside competition. The chairman explains that the new Burns, Philp South Sea Company had paid the parent company £500,000 scrip, and shareholders of the parent company were offered contributing shares in the new company at par, equal to one share in the new company to five held in the parent company. A feature of the company's merchandise transactions is the big increase in the New Zealand section—Aus.-N.Z. Cable Assn.
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Taranaki Daily News, 19 May 1920, Page 5
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179PACIFIC TRADE. Taranaki Daily News, 19 May 1920, Page 5
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