THE PACIFIC CABLE.
A Reduced Loss. (Received 10.22 -a.m.) • MELBOURNE, this day. The Postal Administration has received advice that the deficit on the Pacific cable for the year ended in March* was £69,000, of which Australia contributes one-third.
[The return quoted shows that the Pacific cable, owned by the four Governments concerned, is still doing little more than pay working expenses. The £69,000 will go in payment of the balance of the £77,545 annually met for repayment of capital, with interest. Last year the whole of this £77,545 had to be met, in addition to a working loss of some five thousand. Thus the total loss has been reduced by something like £13,000. New Zealand's interest in the undertaking being one-ninth, her loss for the year will amount to £7,600.]
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/AS19070710.2.40
Bibliographic details
Auckland Star, Volume XXXVIII, Issue 163, 10 July 1907, Page 5
Word Count
130THE PACIFIC CABLE. Auckland Star, Volume XXXVIII, Issue 163, 10 July 1907, Page 5
Using This Item
Stuff Ltd is the copyright owner for the Auckland Star. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. 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.
Acknowledgements
This newspaper was digitised in partnership with Auckland Libraries.