Company Formed To Control Empire Games
AUCKLAND, August 15. • A company to control the Empire. Games in Auckland has been floated with a capital of £5000. It was incorproated 011 Friday -as a private company under the name of Britisli EmpireGames (N.Z.) Ltd. The company has power to accept guarantees and donations up to a further £15,000," giving it a total available fund of £50,000. Guarantees, applications fo'r shares and donations were originally 'i received to a total value of £101,300 but the Minister of Finance, Mr. Nash, refused an application to proceed on this scale and the amounts had to be reduced proportionately. Losses on the Games will be boine in the ratio of half by the shareholders, guarantors and donors in proportion to the amountallotted, and half by the Government. • The company now becomes the legal body controlling the Empire Games. To • give the organising committee full , representation on the board of directors, however, that committee has been granted six nominees as against four representing the- shareholders and guarantors. The Mayor of Auckland will be chairman of the directore.
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Chronicle (Levin), 16 August 1949, Page 7
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181Company Formed To Control Empire Games Chronicle (Levin), 16 August 1949, Page 7
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