SALE OF PETROL
ASSOCIATED MOTORISTS^
INQUIRY TO BE HELD 1
An inquiry is to be made by the Government into the operations of th« Associated Motorists' Petrol Company. In the House of Representatives today Mr. H. G. Dickie (Nationalist, Patea) asked the Prime. Minister—(l) whether his attention has been drawn to the action of the so-called Associated Motorists' Petrol Company, which, after paying a dividend of 350 per cent, on the ordinary capital last year, has now watered its capital by 500 per cent? (2) Whether he is aware that the total ordinary capital of this company is £5000, and that over fourfifths of this capital is held by otae family. (3) Whether he is further aware that £10 per share has been offered for the new £1 shares on the Stock Exchange, and there are no sellers. (4) As this company was saved from destruction by the action of the Government, whether he will take steps to ensure that this company will be run in the interests of motorists and not for a few private individuals. Mr. Savage replied: "The honourable member is.informed that the Government is aware of the position of the Associated Motorists' Petrol Company^ and proposes to make investigation inlp the matter with a view to ensuring that the public interest is safeguarded^
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https://paperspast.natlib.govt.nz/newspapers/EP19360429.2.136
Bibliographic details
Evening Post, Volume CXXI, Issue 100, 29 April 1936, Page 12
Word Count
217SALE OF PETROL Evening Post, Volume CXXI, Issue 100, 29 April 1936, Page 12
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