GUARANTEE FUND OFFERS FOR EMPIRE GAMES £104,000
(P.A.) AUCKLAND. April 6. A total of £104,000 has been offered by local bodies, business firms and private individuals in subscriptions to the company which will shortly be formed to finance the 1950 British Empire Games in Auckland.
On completion of various legal details, shares will be allotted in the company, the capital of which was recently fixed at £50,000 by the Minister of Finance. Until Mr. Nash’s recent decree that the capital of £50,000 would be sufficient to finance the games, the intention was to raise a capital of £IOO,OOO. It is intended that the directorate of the company should comprise 10 persons and that the Mayor of Auckland as the shareholders’ representative should be chairman of directors.
The condition of the award of the Empire Games to Auckland was that an amount of £50,000 should be guaranteed by March 31. On that date the total amount guaranteed exceeded £IOO,OOO.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/GISH19490406.2.156
Bibliographic details
Gisborne Herald, Volume LXXVI, Issue 22915, 6 April 1949, Page 9
Word Count
158GUARANTEE FUND OFFERS FOR EMPIRE GAMES £104,000 Gisborne Herald, Volume LXXVI, Issue 22915, 6 April 1949, Page 9
Using This Item
The Gisborne Herald Company is the copyright owner for the Gisborne Herald. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of the Gisborne Herald Company. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in