CABLE AND WIRELESS (HOLDING)
NEW ERA IN RELATIONSHIPS WITH GOVERNMENTS
THE ninth ordinary general meeting of Cable and Wireless (Holding) Limited was held on May 24th at Southern House London, E.C. The Rt. Hon. Lord Pender (the Governor) said House, the profit for the year was £265,000 higher at £1,208,246. The directors had paid the dividend on the 51 per cent, cumulative preference stock and recommended a dividend of 4 per cent. on the Ordinary; stock, which required £275,324 and left £199,097 to be carried to 1938. By the reconstruction scheme last May the Holding company's finances had been reorganised on a stable basis and dividends had been paid on all the company's stocks. Through the arrangement with the British and Enipire Governments, the full co-operation of those Governments had been assured. A bold policy of increasing telegraph facilities for the users of the service had been inaugurated, while, by intensive publicity, vital reorganisation and far-reaching enterprise, new life and fresh vigour had been introduced into the cable and wireless services of the British Empire, and boundless potentialities opened up for the years that lay ahead. Referring to the improvement in their figures for May, he said there was justification for thinking that this was due to the new all-Empire Rates Scheme, and they had definite information that they were receiving a volume of fresh traffic which they had never had before.
The report was unanimously adopted.
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