FUTURE OF COAL MINES
WESTPORT COMPANY’S SHARES (P.A.) DUNEDIN, December 4. “The nationalization of the coal mines is very much in the air at present,” said Mr James Begg, chairman of directors, at the annual meeting of the Westport Coal Company today. “This has never been adopted as a policy by the present Government, but the Minister of Mines, Mr Webb, has left little room for doubt that it is his policy and to a considerable extent he has been successful in bringing it about. “You will have noticed,” the chairman added, “that, the company’s shares have advanced in price by about 5/- in the last few weeks. The directors do not know of any reason for this rise in price. It may be due to rumours that the Government intends to take over the company’s mines, but no negotiations of any kind have taken place with this end in view. The balancesheet and what I have said today give all the information about the company’s affairs and shareholders must judge for themselves what their shares are worth.”
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Bibliographic details
Southland Times, Issue 25538, 5 December 1944, Page 4
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178FUTURE OF COAL MINES Southland Times, Issue 25538, 5 December 1944, Page 4
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