LOSS ON CONTRACT.
EXPLANATION OF CAUSE. DEPRECIATION OF CURRENCY. Received December 21, 9.30 a.m. LONDON, Dec. 20. Explaining the loss on the Sydney Bridge, the chairman of the contracting company Mr Charles Mitchell, pointed out tliat the company had been paid in Australian pounds, Avhich no one in 1924 could possibly foresee Avould have depreciated to 16s by 1931. Messrs Dorman, Long and Coy. are stated to haA’e made a loss of £247,000 on the contract for the Sydney Bridge.
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https://paperspast.natlib.govt.nz/newspapers/MS19321221.2.77
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Manawatu Standard, Volume LIII, Issue 21, 21 December 1932, Page 7
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80LOSS ON CONTRACT. Manawatu Standard, Volume LIII, Issue 21, 21 December 1932, Page 7
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