INTERESTS OF MOTORISTS
A COMPANY'S POSITION INVESTIGATION PROPOSED [BY TELEGRAPH —SPECIAL REPORTER] WELLINGTON, Wednesday The possibility of Government investigations into the position of the Associated Motorists' Petrol Company was discussed by the Prime Minister,' Mr. Savage, in replying to a question from Mr. H. G. ,Dickie (Opposition—Patea) in t've House of Representatives to-day. Mr. Dickie had asked whether attention bad been drawn to the fact that the company, after paying a dividend of 350 per cent on the ordinary capital last year, had now watered its capital bv 500. per cent. The total ordinary capital was £SOOO, and over four-fifths was held by one family. There had been offers of £lO a share for £1 si; a res v but there were no sellers. Mr. Dickie claimed that Government action had saved the company from destruction and steps should be taken to ensure that the company would be run in the interests of motorists, and not for a few private individuals. "The Government is aware of the position," Mr. Savage replied, " and .proposes to make investigations into the matter, with a view to ensuring that itiO public interest is safeguarded."
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New Zealand Herald, Volume LXXIII, Issue 22406, 30 April 1936, Page 13
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190INTERESTS OF MOTORISTS New Zealand Herald, Volume LXXIII, Issue 22406, 30 April 1936, Page 13
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