OIL INTERESTS.
BRITISH GOVERNMENT SHARES. A VALUABLE ASSET. By Telegraph.—Press Assn.—Copyright. London, March 11. The House of Commons in 1920-1921 authorised the payment of a call for £950,000 on the Government’s holding of shares in the Anglo-Persian Oil Co. Sir Frederick Banbury and others criticised the vote and suggested that the shares should be sold now, as they would realise a good price and the Government would make a profit. Mr. Hilton Young said it was good business to pay the call as the Government had a most valuable asset. Sir Owen Phillips supported the Government. He pointea out that the world’s oil was controlled by four people, of whom three were foreigners. He asked whether they were going to allow the British navy to be controlled by foreigners. [The company last year made a net profit, after paying income-tax and royalties of £4,000,000 and paid a dividend of 20 per cent, free of income tax.]
Permanent link to this item
Hononga pūmau ki tēnei tūemi
https://paperspast.natlib.govt.nz/newspapers/TDN19220314.2.41
Bibliographic details
Ngā taipitopito pukapuka
Taranaki Daily News, 14 March 1922, Page 5
Word count
Tapeke kupu
156OIL INTERESTS. Taranaki Daily News, 14 March 1922, Page 5
Using this item
Te whakamahi i tēnei tūemi
Stuff Ltd is the copyright owner for the Taranaki Daily News. 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