SYDNEY BRIDGE LOSS.
EXCHANGE RATE BURDENS. The Financial Times (London) says-. “The loss on the Sydney Harbour Bridge is not surprising. It had been anticipated that the contract would be financially adverse. “Dorman, Long and Co. incurred heavy losses on the transfer of payments for the bridge from Australia to England, owing to the unfavourable exchange. On this account £129,677 was written off in 1931, and £75,602 is included in the present balance-sheet for further transfers—thus the loss on the bridge to date is £442,279. “The cost was inevitably affected by the strike of 1926 and other troubles which delayed completion. The company’s total deficiency for the year is £387,768.”
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Manawatu Standard, Volume LIII, Issue 19, 19 December 1932, Page 7
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110SYDNEY BRIDGE LOSS. Manawatu Standard, Volume LIII, Issue 19, 19 December 1932, Page 7
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