COMMUNICATIONS MERGER

Taranaki Daily News, 17 July 1930, Page 11

COMMUNICATIONS MERGER

LOSS TURNED INTO PROFIT. By •Rec.'7 p.m. London, July L». At a crowded, excited and noisy meeting of the cables and wireless company the president ‘ said it w r as obvious the position would have been much more serious if they had continued competition with the Post Office, operating the beam system during the depressed economic conditions throughout the world which had been experienced since the merger, lie did not think it too much to say that the 'Communications Company’s profits would have been wiped lout. The Post Office beam service figures showed how beneficial the merger had been. For the first eighteen months of the period under review, when the services were being operated by the Post Office, the company,.; lost £82,800, while lor the Ihs.t^thVee’months, there was a Ijnall profit.