LABOUR SHARE IN RADIO STATION

Grey River Argus, 20 September 1948, Page 4

LABOUR SHARE IN RADIO STATION

CANBERRA, Sept. 19. Asking why the Parliamentary Labour Party held shares in Radio Station 2HR, Newcastle, Mr W. J. Hutchinson (Liberal'Party) moved the adjournment of the House of Representatives to discuss the question.

H e said that previously he had referred to a report in a Sydney newspaper of the extraordinary dividend on the shares held by the Prime Minister (Mr Chifley) in the station. The dividend was three times greater than that of any other preference shares in Australia. 'The ..Prime Minister’ had replied oi the occasion that he held the shares as trustee for the Parliamentary Labour Party. Mi’ Hutchinson continued that the Government completely’ controlled broadcasting and that it was remarkable that the Government, with such wide powers, should have vested interests in a commercial radio organisation. He added that Mr Chifley always gave a covert sneei’ when profits were mentioned!! but the 2HR preference shares carried a rate of 16 per cent. Mr Chifley replied that the shares came to the Parliamentary Labour Party through its New South Wales branch. As trustees of the Parliamentary Laboui- Party, he and the Deputy-Prime Minister (Dr. H. V. Evatt) on hundreds of occasions had publicly invited contributions to party funds. Mr H. L. Anthony (Country Party) said that the Prime Minister had tried to be disarming, but had been alarming. He had invited large concerns, including breweries, importers and other people who had favours to gain, to subscribe funds to be handled by members of Parliament. It was to be assumed that those subscribers would expect at some later stage favours in return for their contributions.

•The adjournment motion was lost by 32 votes to 23.