FEDERAL MAIL SYNDICATE.

Wairarapa Age, Volume XXX, Issue 8440, 14 May 1907, Page 5

FEDERAL MAIL SYNDICATE.

GUARANTEE WANTED. Received May 13, 7.40 a.m. LONDON, May 12. Interviews have taken place between the Federal Mail Syndicate, Mr Thos. Bent (Premier of Victoria), and Sir William Lyne (Commonwealth Minister for Trade and Customs). It is understood that the underwriters of the debentures require a guarantee that the subsidy will be paid for ten years under any circumstances. Mr Bent is willing to guarantee £125,000 a year for ten years if Victoria is allowed preference in the shape of a induction of fares and freights. Sir William Lyne replied that it was simply impossible to consider one, State receiving preference over another. Mr Bent said he was willing to allow any other State to come in on the same terms.

Sir William Lyne refused. He said he was not prepared to give a guarantee without some concession, and merely for the sake of honour and glory. He will see Mr Deakin on Monday. The syndicate is pressing for further delay before the penalties provided under the contract are enforced. Mr Deakin is indisposed to consent to delay. Sir William Lyne has sent a telegram to Sir John Forrest, ActingPrime Minister of the Commonwealth, and is waiting for a reply betore he acts.