Queensland Loses on State Enterprise
REPORT OF AUDITOR TOTAL TO DATE, £!.063.000 By Cable. — Association. — Cop;; ■ i«/ 7, * Reed. 10.15 a.m. BRISBANE, To-day. j The Auditor-General, in his annual ! report on State enterprises, states ! 1 that the total sum written off tor j losses, etc., had been nearly £509.000, but from this should be deducted pay- | ments to the consolidated 1 evenuo, £ 62.000, leaving a net sum of ! £746,000, and if the accumulated ; losses were added the total net loss to date was £1,063,000. The seven State enterprises were indebted to the Treasury to the amount 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 i the enterprises, the capita! cost of i each enterprise was treated as a loan from the Treasury, with interest at 6 per cent, for 40 years, which must he considered very favourable, as the Treasury did not raise the money it 5 per cent.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/SUNAK19271116.2.111
Bibliographic details
Sun (Auckland), Volume I, Issue 203, 16 November 1927, Page 9
Word Count
174Queensland Loses on State Enterprise Sun (Auckland), Volume I, Issue 203, 16 November 1927, Page 9
Using This Item
Stuff Ltd is the copyright owner for the Sun (Auckland). You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in