Millions For Treasury From Bookstall Business
(N.Z.P.A.-
—Ppn+or
Cowyright )
LONDON, August 23. Because of the lienvv death dutie*imim the estate of its fortner chairman Viscount TTauibledeu. the famous firir uf W. TT. Rmith and Rons, Britain's !:i rgest book and newspaper sellers. is t" ninke its" first offer of shares to the pub1 1 1* nn Ihe Stock Exchange next week Suliicient shares will be sold to raise Ihe £fi,f)00 ,{)0fi, which is due to thc Treasury. This will leave the surviving members of the family holding about onethirrl of the eompanv's stock. The estate has been valued at be tween £7,500,000 aud £8,000,000, of which the bulk is represented by shares in the business. The foundations of ihe familv fnrtune wero laid when Mr W. TT. Smith realised the imnien.se ]'nss>bilities in the rapid distrilmtion of newspapers. He was tlie first to estnblish a chain of newspaper and l nnk stands on British railway stations, and the firrn still" controls the great majoiity of sucli saies. Today Rmiths ' interests are valued conservatively at £9,000,000.
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https://paperspast.natlib.govt.nz/newspapers/CHRONL19490830.2.26
Bibliographic details
Chronicle (Levin), 30 August 1949, Page 5
Word Count
175Millions For Treasury From Bookstall Business Chronicle (Levin), 30 August 1949, Page 5
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