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any excess over their written down value on realisation
will be credited.
The Bill is being introduced as a Government
measure but its teims have been agreed to by the directors
of the Company. In perusing the Hansard account of the first reading in this Council of the Telephone Ordinance,
1925, one meets frequent tributes to the ability and tact of Mr. Taggart who conducted the final negotiations in
connection with the foundation of the Telephone Company
of which he was a promoter and is the managing director,
and I should like to record that the Government
representatives in the present negotiations with Mr.
Taggart have again met the same high qualities of vision
and breadth of judgment, to which testimony is borne by
the success of the Company and the service it has
rendered to the Colony.
Sir, I now beg to move that the Telephone
Amendment Bill, 1940, be read a first time.
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