STATE TRADING
HOW IT WORKS THE QUEENSLAND EXPERIENCE TOTAL NET LOSS OF £1,063,000. IBy Cable — Pre.a Aara. — Copyrifbt.l (Received 16, 10.15 a.m.) Brisbane, Nov, 16. The Auditor-General, in his annual report on State enterprises, says the total sum written, off for losses, etc., has been nearly £809,000, but from this should be deducted payments to consolidated revenue of £62,000, leaving the net sum of £746,000. If accumulated losses were added, the total net loss to date is £1,M3,000. The seven State enterprises were indebted to the Treasury to the •mount of £1,703,000. If this were added to the amounts written off there was a sum of £2,449,000 which represented the net investment of Treasury funds at June 30 last in the whole of the enterprises. The capital cost of each enterprise was treated as a loan from the Treasury with interest at five per cent, for 40 years, which must be considered very favourable as the Treasury did not raise the money at five per cent.
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Hawke's Bay Tribune, Volume XVII, 16 November 1927, Page 5
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166STATE TRADING Hawke's Bay Tribune, Volume XVII, 16 November 1927, Page 5
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