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BEAM WIRELESS AND CABLE COMPANIES.

(Previous

Reference: Cabinet 37 (28). Con- clusion 4.)

2. The Cabinet had before them a Memorandum by

the Financial Secretary to the Treasury (Paper

C.P.-271 (28)) on the subject of the terms of

transfer to the Merger Company of the Beam and

Cable Staffs. In this Memorandum the Cabinet was

asked to approve, as a basis of negotiation, the

terms set forth in the Appendix to this Minute

in regard to (a) Post Office Staff, (b) Pacific

Cable Board Staff, on the understanding that it

might be found necessary, in order to reach an

agreed settlement, to make some abatement from the

liability which the scheme for the trans fer of

the Post Office staff would impose on the Merger

Company, but not from the scheme as affecting the

Pacific Cable Board staff.

The Cabinet approved the proposals in the Treasury Memorandum (Paper C.P.-271 (28)).

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