LOSS DISCLOSED

Wairarapa Times-Age, 19 August 1938, Page 5

LOSS DISCLOSED

ON RADIO ADVERTISING SERVICE “YEAR OF ESTABLISHMENT” (By Telegraph—Press Association.) WELLINGTON, This Day. An excess of expenditure over revenue of £7386 17s 5d is shown in the balance-sheet of the National Commercial Broadcasting Service for the year March 31, 1938. Excess expenditure during the previous financial year amounted to £4566 13s 9d, making a total working loss of £11,953 Ils 2d since the inception of the commercial service This is published in the annual report on the National Broadcasting Services which was presented in the House of Representatives yesterday by the ■ Acting-Minister of Broadcasting, the Hon F. Jones. The report is divided into sections, one, dealing with the National Broadcasting Service and the other with the National Commercial Broadcasting Service. The section of the report dealing with the commercial service states that the year under review must necessarily be regarded as one largely of establishment, for at the beginning of the year only one station of the proposed network was actually in operation and revenue-producing, and that station had been in operation for only four months. The last station of the network, 4ZB, Dunedin, was not opened until as late as October 12, 1937. Preliminary organisation involved the service in a comparatively heavy expenditure for establishment costs and other non-recurring items.