THE COMMONWEALTH LOAN.

New Zealand Herald, Volume LXVII, Issue 20760, 31 December 1930, Page 4

THE COMMONWEALTH LOAN.

SUCCESSFUL RADIO APPEAL

One of the finest; aspects of the successful flotation of the Commonwealth loan was the excellent reception accorded to the Australian Broadcast Company's appeal from its stations 2FC and 2BL in Sydney, and other stations throughout 'the length and breadth of Australia. When there seemed a possibility of failure in raising the £23,000,000, a conference was held between the acting-Federal Treasurer, Mr. J. A. Lyons, the chairman of directors of the Australian Broadcasting Company, Mr. Stuart F. Doyle, and the Director-General of Posts and Telegraphs. Mr. 11. T. Brown, as a result of which the air campaign was commenced.

In one week's campaign, during which Mr. Doyle arranged for prominent speakers each evening, £637.690 was received toward the loan. Such a stupendous reception to the appeal was not expected, although the power of wireless as a means of appeal was well known. Mr. Doyle stated during the appeal that, it. was expected that, half a million pounds would be received; but apparently, even the chairman of the company had not hoped for this figure to be eclipsed. The Commonwealth loan of December. 1930. can be stated tn be. the finest achievement since the personal sacrifices of tho Avar period, and certainly the greatest demonstration Australia, has ever had of the tremendous power of modern wireless.