AN INTERESTING SHIPPING DEAL.
As indicating the depressed tendency of markets and the failure to respond to favourable developments, a recent important shipping deal failed to have any marked effect upon shipping shares. Furness Withy and Co. and their associated companies, who recently acquired a substantial block of shares of the Royal Mail Lines, Ltd., have now acquired from the R.M. Realisation Co., Ltd., the Nelson Steam Navigation Co., Ltd., and David Maclver and Co., Ltd., the whole of the remaining shares of Royal Mail Lines, Ltd., belonging to those com- panies. Not only was this development important in the sense of removing all expectations of a further offer of shares in the market, but the fact that so shrewd an observer of shipping conditions as Lord Essendon should have acquired this large block of shares was rightly regarded as reflecting favourably upon shipping prospects as a whole.
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