TELEPHONE TRANSFER.

Dominion, Volume 6, Issue 1648, 15 January 1913, Page 7

TELEPHONE TRANSFER.

: COMPAINY- AWARDED ...£12,515,000. •By Telegrajph—Press 'Association-Copyright 1 (Rec. January 14, 9.30 p.m.) •-,' . .London,-January 14. . The Court of Arbitrators set. up to consider the claim of the National' Telephone Corr/.pariy for £20,000,000, as payment, for the transfer, of its the State, has'awarded'the company £12,515,000. .;;,•,/.', ,;V:.- ! .■■•''■. :: :, y'■ '\ The ' Con .it arrived, at' tha >, amount awarded b;? ascertaining the costof construction and plant, and then deducted a sum for compensation. '— In consequence of the'decision the company's stock has fallen': from . £130 to ,£io9. ■-~■■... :;;.,' :■;'■';" V. ' :/;.' Since the Government took oyer' the ■telegraphs in 1888' tho acquisition of tho . National Telephone System, 'from January 1,1912, was tho most'important step taken in tJie direction: o?-'.the nationalisation of puiilicservices-T .;■ The tclcplhone system, hadbeen'in operation sinW 1880, under, the-license of the : Poistiiiaster-General, ..which . automatical- " ly-.expired pit the close of '1911. ; Under, tiie ngrceniVnt between' tho PostmasterGeneral and the National Telephone Company, signed in 1905,, and in accordance with', the terms, of-.the Telephone Transfer Act; (1911)} the company's business twas acquired ,6n the following condition— ■>'■ "Ail plant, Jand, and buildings.'with reasonably suitable stores' and . spare • plant,' will bo taken over by the Post Office as it will stand on December 31, 1911, : | no allowance'being • mado ■ fijr. past or probable prospective, profits: or in respect' to compensation. for compulsory acquisi- ,. tionl If the parties do. not" agree as to \ the valuation, the price to be paid-will the Railway Commission-. ' eta." '■,".'■'''.;.- : '.;', : -\ '■/;-.:_; '■■■■■ : ■.'■':■! :':'■':■■' : ,