SYDNEY BRIDGE LOSS
TRANSFER OF PAYMENTS. EXCHANGE 'RATE BURDENS. ! I LONDON, December 4. The Financ.al 'Times says: “The loss on the Sydney Harbour Bridge is not surprising. it had been anticipated that the* contract would be financially adverse. • uoiinan, Long and Co., incurred heavy losses on the transfer of payments for the bridge lrom Austialia. to England, owing to the unfavourable exchange. On this account £129,077 was written off in 1931, and £75,002 is included in the present balancesheet for further transfers —thus the loss on tile bridge to date is £442,279. “The cost was inevitably affected by the strike of 1920 and other troubles
which delayed completion. The company’s total deficiency .for the year is £387.708.”
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Hokitika Guardian, 20 December 1932, Page 3
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117SYDNEY BRIDGE LOSS Hokitika Guardian, 20 December 1932, Page 3
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