The Archive · 1934

CHAIN PROVISIONS OF CUNARD MERGER Contingent of Legislation by Parliament

London, Mar, 11.

The main provisions of the agreement. between the Trasury, the Cunard Ca. and the Oceani [Steam Navigation Ca, for a met nto the "Cunard White Sear Lide> which is to take over, free from alli mortgages and charges, certain Atlantic assets of both companies, rare published to-day Hegistation being passed by" Parl agreement is contingent

@2j ment and on the consent of holders Jof Cunard debentures and secured creditors of the Oceanic being obtained.

Legislation must be passed to! Jenable the" Treasury to provide 3,000,000 for the completion of the giant liner known as No. 584 and further £1,500,000 for working lea pital, and to enable the Treasury.

provide another '£5,000,000 for additional ships.

As a consideration for the merger, Jez ner cent. of the initial capital will be credited to the Cunard Ca. Jand 38 per cent, to the Oceanic. Reuter.

Text read from the printed page and cleaned; old type leaves the occasional error.

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