announced in the House of by Mr, °L. Here-Belisha, Financial Secretary of the Treasbry, today that a formal agreement, conditional upon the necessary. sent and passing of legislation by. Parliament, had now been entered into between the Cunard and White Star Lines and the Treasury where: by. the North Atlantic. interests of both companies would be. merge Jend financial taciities would be pro-ided ly the Government. for "the completion of the new giant Cunard liner known ax No. 534, stated, would shortly be inérodueed The necessary legisla
in' Parliament. Power' would also be sought to give assistance in the laying down of @ sister ship, but no commitments, in that regard had been undertaken, A White Paper giving the terms of the agreement was issued. this evening. Tt states that, og a result of negotiations suggested by the Government, the chairmen of the two boards recently arranged terms for the merger in a new. company of the Cunard and White Star in-forests, and. an agreement. was thereafter concluded with the Treasury as to the terms in which the department would recommend the Government to grant financial Treasury Advances The agreement provides for the formation of a new merger company to be called "Cunard White Star, Limited," or by some other name to be agreed upon by all parties, with 62 per cent. of the shares hold. by the Cunard' Line and 38 per cent.
Text read from the printed page and cleaned; old type leaves the occasional error.