"THE TIMES" COMPANY.

Manawatu Standard, Volume XLI, Issue 8537, 18 March 1908, Page 5

"THE TIMES" COMPANY.

FORMATION SANCTIONED. NO CHANGE IN POLICY. #. (By Electric Telegraph—Copyright.) Per Press Association. LONDON, March 17. Mr Justice Warrington yesterday sanctioned tho formation of a new company to take over the business of the Times. Under the reconstruction scheme. Air A. F. Walter, at present chief proprietor, will be chairman of directors, and Mr F. Moborlcy Bell, who has managed the business for some years, will be manager. The rest of the directors will comprise Mr G. E. Buckle, editor; Mr Valentino Chirol, director of the foreign department of the paper, and Messrs Monkc and Penny, leading members of the staff. No shares in tho new company will be offered to the public. It is announced, that there, will be no change in the political and editorial direction of the Times, which will continue to be conducted by the same staff on the independent lines hitherto pursued. The Daily Chronicle suggests that Lord Rothschild and Lord Northcliffe (formerly Sir Alfred Harmsworth, proprietor of the- Daily Mail, and a number of other papers) have furnished the bulk of the capital for the Times, and. states that the goodwill of the business, without the plant and freehold premises, is valued at £320,000. Tho Daily Mail states that the capital of tho, new Times Company will be £750,000.