AUSTRALIAN RIGHTS

Evening Post, Volume CXXIII, Issue 99, 28 April 1937, Page 21

AUSTRALIAN RIGHTS

RADIO ADVERTISING

HOLDING OF SHARES

(By Telegraph.) (Special to the "Evening Post.")

CHRISTCHURCH, April 27.

A private company, in Australia known as Radio Vision, Ltd.,. has been sold the Australian rights for the letting of radio advertising in New Zealand. This was confirmed by the Minister at present in charge of broadcasting, the Hon. F. Jones, in a telegram to the "Press" this evening in reply to an earlier request for comment on a statement that the sale had been made to. the company, which was reported to be one of the investments of the McArthur Trust/ !; , ,V .

■ When the first request was ,made to the' Minister by telephone-in.the afternoon he stated that he. would have to investigate the report. . Later he sent the "Press" the. following telegram:— '.'Replying to your telephonic inquiry, on investigation today I. find that; a number Of Sydney business firms. were written to- and applications were, received from others to , act as. representative Of tlie-commefcial broadcasting service in".New Zealand fOr.the letting of advertising over the air in the Dominion. The Radio' Vision. Proprietary submitted the most suitable and acceptable terms, .and I,am assured that they are: rendering good service." . .>.■ .

1 The first announcement, ot the. celling of the Australian rights was'madein the hearing of a civil claim in the Supreme Court at Invercargill on March 2, when Fleetwood W. Graham, secretary of the McArthur Trust. Was explaining the financial holdings of the trust. He said, according to A a Press Association report, that one of its investments was £500, practically all the preference shares in Radio Vision. Ltd.. which had the" Australian rights for commercial broadcasting in New Zealand. Many of.the biggest,firms doing broadcast advertising; had,.their head-. quarters in Australia and their appropriations for advertising Over;. the air would.be made froni.Australia. 'Australian firms, Mr. Graham "said, which wanted space on New Zealand commercial broadcasting stations would buy it from this firm. The McArthur Trust owned ' practically'; all' the ■preference shares. The ordinary;, share: issue :\yas' about £1500. but he did not know who held those shares. A man named Griffiths, who was a director of 'the McArthur Trust, was also a director of Radio Vision, Ltd. He thought that the investment was a. safe one.

As far as can be ascertained, the Australian, company named is not a public one. No record of it can be found in Jobson's Investment Digest, which is a record of registered public companies in Australia and New Zealand.