INQUIRY INTO CELLULOSE COMPANY
GOVERNMENT DEPARTMENTS FREE OP BLAME. (Rec. August 17, 5.5 p.m.) London, August U. The report of the British Cellulose 'Inquiry Committee says the Government Departments whicll granted the concession to the company acted Ixma fide. There , was no favouritism or corruption, , but , the promoters had only themselves to thnnk for much of tho criticisms, which were founded on the glaring contrast between tho early and subsequent values of shares.—Aus.-N.Z. Cable Assn. [The report of a Select Committee- on tho Swiss Cellulose Company, registered as a British company, revealed tho fact that thero had been no supervision of tho concern. Tho company waa also relieved of taxation and finally got tho State to pay its capital expenditure. It secured a monopoly of cellulose acetate, tho principal ingredient of varnish for aeroplane'wings,'and received a contract of tho value of .£3,000,000. Its capital was ,£lGO,opo in sixpenny shares. Subsequently, tlio shareholders received £U 10s. shares for each sixpenny share.]
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Dominion, Volume 12, Issue 276, 18 August 1919, Page 7
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160INQUIRY INTO CELLULOSE COMPANY Dominion, Volume 12, Issue 276, 18 August 1919, Page 7
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