S, Amery, winding up the debate, chided Mr. Walter Baker. He affirmed that it had been clearly shown that there was no possibility of the Dominions Governments participating with Britain in a cable and wireless system serving the various parts of the Empire and organized, financed and owned by those Governments as a unit, Senatore Marconi listened to the debate from the Distinguished Strangers' Gallery.
How it is to be Done The Marconi Wireless Ca. an-ounces that it is hoped to form the merger company beween the East-em and Associated Telegraph Companies and the Marconi Wireless Ca, as soon as the necessarily protracted legal formalities can be carried out, when the merger company will make an offer to the shareholders of the cable companies and the Marconi Ca., respectively, to acquire their shares in exchange for shares in the merger company.
'A message dated March 15
Proposals with regard to the fusion of the interests of the East ern and Associated Telegraph Com-
The State Department, which has carefully examined the provisions of the compromise agreement recently reached beween the British - and French Governments in regard to aval issues, has informally announced its readiness to send another American degelation to the Prewaratory Disarmament Confer-Jence at Geneva should the new development result in the reopening lof the discussions.
Officials of the Navy Department point out that a fundamental change in the naval situation is created by the possibilities which the ageeement between Great Britain and France presents for the limitation of submarine construction—Reuter, preference and ordinary shares, of [which the concerns will hold varying proportions; but an aggregate of £36,350,000 will be allegated to the Telegraph Companies and £17, '350,000 to Marconi's.
The Telegraph Companies will have 56.25 per cent. voting strength and Marconi's 43.75 per cent.
'The new company will acquire (a) from Marconi's the whole of fits capital, which will be satisfied from the foregoing consideration, and (b) the whole of the Telegraph Companies' ordinary shares, leaving the preference shares and' the debentures undisturbed. the Conference was convinced that panies and the Marconi Wireless The board of the new company it was acting for the public interest, Ca, contemplate the formation of will consist of twelve cable no-It proposed to enter into negotia- [holding company with a capital of iminees and eight Marconi notions with the companies concerned £53,700,000 in three classes of £1] minees."—Reuter. ape
Text read from the printed page and cleaned; old type leaves the occasional error.