CABLE-RADIO COMBINE

Hokitika Guardian, 17 July 1930, Page 6

CABLE-RADIO COMBINE

United Press Association— By EJectrio

Telegraph.—Copyright.)

LONDON, July 15

There was to-day a crowded, excited and noisy meeting of the Cables Wireless Communication Company. Sir Denison Pender, the President, said that it was obvious that the position would, have been much more serious if ithey had continued the competition with the post office operating the beam system during the depresesd economic conditions throughout tlife'%orld which had been experienced siiifie' the cable- \ wireless merger. He did not think it too much to say that the Cable-Wire-les Communications Company’s profits would have been wiped out. The post office beam service figures showed how beneficial their merger had been. For the first eighteen months of the period under review, when the services were being operated, on one account by the post office, the Cbm • pany had lost £82,800, while for the last three months, there was a small profit. REASONS FOR SLUMP. LONDON, July 16. At the Cables Wireless Communication: Coy’s meeting, the President ad>ded 'that it was certain that, with a revival of trade, there would be a revival Of telegraphic revenue but until a- revival occurred it would be misleading to hold out any hope of a real improvement. The result' had been frankly■ disappointing. They' had had the misfortune to run against an Unprecedented period of trade depression -at the moment when reorganising their telegraphic service throughout the world. - - Eighty per cent of the telegraphic revenue was in respect of commercial traffic. The cables would oontinue to play an important part in world communication.

The report and accounts were adopted.