MINING ROYALTIES IN BRITAIN
DEFENCE OF PURCHASE BY STATE (British Official Wireless) (Received May 6, 5.5 p.m.) RUGBY, May 5. In a further debate on the Coal Bill in the House of Lords, the Lord Chancellor (Viscount Hailsham) defended Part 1 of the Act, which provides for the State acquisition of mining royalties for £66,440,000. He urged that the compensation to the owners was fair and reasonable, and said that coal royalties had never been created on the same basis as gilt-edged securities. Disinterested persons must accept as fair, compensation on the basis of 15 years’ purchase for a wasting asset.
The proposals received the support of Lord Snell (Labour), but criticism from other sources continued.
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Southland Times, Issue 23502, 7 May 1938, Page 7
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116MINING ROYALTIES IN BRITAIN Southland Times, Issue 23502, 7 May 1938, Page 7
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