CABLES AND WIRELESS

Greymouth Evening Star, 11 January 1929, Page 5

CABLES AND WIRELESS

NEW COMPANY’S CHAIRMAN

(Australian Press Assn. —United Service.) (By Cable—Press Assn—Copyright.)

LONDON, January 10.

It is officially announced that Sir Basil Blackett becomes Chairman, and the Earl of Clarendon, Director of the Communications Company, taking over the cable and wireless services.

The “Daily News’’ says that Sir B. Blackett will receive £BOOO as salary from the Radio Board. Earl Clarendon, already receives £3OOO for the chairmanship of the Broadcasting Corporation.

Sir Basil Blackett considers that the communication company will increase the cheapness and efficiency of Empire communications. Its dividends will be six per cent. Any excess profits will be divisable equally between the company and the reductions of rates or other purposes approved of by the Advisory Committee. This is a big new advance on the lines of the inter-imperial public utility service substituting co-operative development of telegraphic communications foi’ uneconomic competition, and securing all the attendant advantages at cheaper rates for the public. The sale to the Communications Company of the assets of the Cable and Marconi Companies, in exchange for the Company’s shares, provides a capital of thirty millions sterling.