DEFICIT OF £579,610
Cotton Mill Winding-up (N.Z Press Association) WELLINGTON, June 16. The Government still has to recover £579,610 to meet the cost of cancelling the Kelson cotton mill project. To March 31 last, £416.124 j had been recouped by sales ' of plant. land and buildings, but £995,734 has i been paid in compensation and administrative costs. I The Controller and AuditorGeneral (Mr A. D. Burns), in his report tabled in Parliament today said that with the exception of one item of plant all the assets of the former company had been disposed of. i Apart from a sum for pro- ■ fessional fees due in New ■ Zealand, the remaining expen- ' diture to be met was of a minor nature, said Mr Burns. He said during the 1964-65 financial year, receipts for the sale of plant overseas—and of the mill property in New Zea- ■ land—amounted to £88,788. (Expenditure totalled £22,190.
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Press, Volume CIV, Issue 30779, 17 June 1965, Page 3
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149DEFICIT OF £579,610 Press, Volume CIV, Issue 30779, 17 June 1965, Page 3
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