(a) This represents a return of about 1 per cent. on the outstanding capital. 2,081,304 (b) The capital consists mainly of two cables. No. 1 (the ex-German) cable was brought into the account at its original cost less depreciation to the date of taking over, that being the basis of the provisional valuation made by the Reparations Commission. No. 2 cable was purchased and brought into the account at its purchase price. Interest in this account is calculated on the above valuation less depreciation to date. (c) See notes headed "Trading Accounts" on pages 7 and 8. |