CABLES AND WIRELESS.

New Zealand Herald, Volume LXVI, Issue 20152, 12 January 1929, Page 11

CABLES AND WIRELESS.

BENEFITS OF NEW COMPANY. CHAIRMAN TO RECEIVE £BOOO. Australian Press Association—United Service. LONDON, Jan. 10. Sir Basil Blackctt, who lias been appointed chairman ol' the new Communications Company, which is taking over the cables and wireless services, savs ho considers that the company will increase the cheapness and efficiency of Empire communications. Its dividends will be limited to six per cent., and any excess profits will bo divisible equally between the company and a reduction of rates, or used for other purposes approved of by the Advisory Committee. " This is an important advance on the lines of an inter-Imperial public utility service, substituting co-operativo development in telegraphic communications for uneconomic competition and securing all the attendant advantages at cheaper rates for the public." The sale to tlio Communications Company of the assets of tho cable and Marconi companies in exchange for tho company's shares provides a capital of £30.000,000. Tho Daily News says that Sir Basil will receive a salary of £BOOO. Tho Earl of Clarendon, who has been made a director, already receives £3OOO for the chairmanship of tho Broadcasting Corporation.