N.Z. LABOUR NEWSPAPERS
Sir,—The report and balance sheet of NZ Labour Newspapers, Ltd., to 31/12/46 being presented to shareholders this month contains items of interest: (1) Authorised capital £250,000; only £145,690 subscribed; (2) of its paid-up capital of £144,634, it lost £36,804 during 12 months to 31/12/46 (over 25 per cent.); (3) its paid average daily circulation rose less than 3 per cent, between June and December 31, 1946; (4) shareholders holding less than five shares (the average shareholding is only 10.4 shares) who are unwilling to at least double their holdings are recommended by the directors to transfer their shares to the Labour Party trustees to save the time of the office staff. Presumably such shares and shareholders have merely a “ nuisance value.” The future of the paper appears inversely as “ rosy ” as its politics are “ red.”—l am, etc., Ajax. May 22.
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https://paperspast.natlib.govt.nz/newspapers/ODT19470526.2.122.5
Bibliographic details
Otago Daily Times, Issue 26470, 26 May 1947, Page 9
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143N.Z. LABOUR NEWSPAPERS Otago Daily Times, Issue 26470, 26 May 1947, Page 9
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