IS LOAN TO RADIO COMPANY SECURE?
MR. WILFORD ANXIOUS STATE’S SECOND MORTGAGE (THE SUN'S Parliamentary Reporter.) WELLINGTON, Thursday. The Government’s loan of £15,000 to the New Zealand Broadcasting Company is still the subject of reference in the House of Representatives. Mr. T. M. Wilford expresses an anxiety that the Government might not be sufficiently secure, and has addressed a question to the Prime Minister whether there is a possibility cf the New Zealand Broadcasting Company paying for its plant out of revenue, as, even with the paid-up capital of £6,300. plus debentures of £5.000, and plus Government loan of £15,000, making a total of £26,300. the company will be unable »o pay the sum of £45,000 which, on its own figures, is the cost of its plant; and whether, seeing that the Government has only a second mortgage security, from the company subject to a debenture of £5.000 to the Bank of New Zealand, he considers the Government is secure in the event of the revenue of the company falling below the optimistic calculations of the two people who control the company.
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https://paperspast.natlib.govt.nz/newspapers/SUNAK19270812.2.149
Bibliographic details
Sun (Auckland), Volume I, Issue 121, 12 August 1927, Page 16
Word Count
182IS LOAN TO RADIO COMPANY SECURE? Sun (Auckland), Volume I, Issue 121, 12 August 1927, Page 16
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