SAFEGUARDING CONTROL.
_ On more than one occasion I have referred in these columns to the fact that certain companies controlled by British capital would be likely to take steps shortly to prevent the possibility of the concerns coming under foreign control. The movement owes its stimulus, of course, to the manner in which United States capitalists in recent years have secured control of many British undertakings, and, while opinion as to the desirability of repelling this invasion is divided, there is very little diversity of view that in the case of some of our more important under- takings precautionary measures should be taken to prevent the passing of control into foreign hands. Most of the Argentine railways are, of course, controlled by British capital, and at a meeting recently called of shareholders of the Buenos Ayres and Pacific the policy of the board in taking steps to prevent the possibility of control passing out of the bands of British or Argentine shareholders received an emphatic endorsement from all who were present. The means taken simply comprise the passing of the necessary resolutions altering the Articles of Association with a view to precluding the possibility of any foreign shareholders other than Argentine nationals obtaining control of the management.
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