ALL PROFITS TO WAR FUND

Nelson Evening Mail, Volume LXXIII, 15 June 1940, Page 2

ALL PROFITS TO WAR FUND

AUCKLAND FIRM OF PAPER MERCHANTS [United Press Association] AUCKLAND. 14th June. It is disclosed that B. J. Ball (New Limited. Auckland, one of the largest firms of paper merchants operat ing in the Dominion, has offered the ; Government the whole of its profits throughout the war and for 12 months 1 thereafter Payment will be spread of ! instalments of £SOO a month, the bal- ■ ance of profits being paid at the end > of each yearly period. The only condi- ; tion is that, after deducting income i tax for which the firm is liable from - time to time, the Government will apply , the balance for war purposes only. The Minister of Finance. Mr Nash, has intimated that the Government will accept the generous offer. The offer was made by Mr S. J. Robinson, who explained to Mr Nash ; that, as he was the owner of the busi--1 ness, there w r ere no interests of share - holders to consider. He felt he could > not stand by and see one section of the : communit3' offer their lives without i doing what was in his power to help • with the prosecution of the war. Money . was needed just as were men in order . to secure victory. ‘Several reasons dictated my decision.” said Mr Robinson. “One of them was that I thought it w-ould assist the Government, not only financially, but also to appreciate the spirit of the people of this country It should help the realisation that people are prepared to make sacrifices. I also think it will serve to show that section of the community that talks about war profits that not all employers are seeking to benefit. In our case, of course, we are giving all our profits.” *