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MONEY nEHINI) THE SCRKEN 25
Tho throo O.strors hold imrncrous flinM-torships in a.s.nooiatod film conconis, while the Im)\ interest is re|)reMente(l by S. \i. Kent, (). 11. ('. liall'our and I). Broadrnan. The ialt^T two are chainnan and niana;iinj^ director respectively of Balfour, Broadnian & Co., who are the Fox bankers in this conntry. J. Ma.wveH's other direetorahipa are mainly confined to the Associated British Picture Corporation Ltd. j^rouj). Col. Micklem is chairman of the Alliance Investment Co., Ltd., the Army & Navy Investment Trust Co., Ltd., the Banker's Investment Trust, Ltd., and Greenwocxl &' Jiatley, Ltd. ; he is also a director of the Chinese P^n^ineering & Mining Co., Ltd., the Great Southern of Spain Railway Co., Ltd., the Sterling Trust, Ltd., tlie Zafra & Huelva liiilway Co., Ltd.. and other companies. C. H. Dade, a council member of the British Electrical Federation, J^td., and of the Federation of British Industries, is chairman of Clayton Devvandre Co., Ltd., and Transport Power & Finance, Ltd., and director of Transport Hotels, Ltd., Electrical & Industrial Investment Co., Ltd., Ever Ready Co. (Great Britain), Ltd., Ever Ready Trust Co., Ltd., and of eight electric supply or transport companies. I. P. Little is a director of Geo. Adlam & Sons, Ltd. Viscount Lee of Fareham (former Cabinet Minister and at present chairman of Trinidad Lake Asphalt, Ltd., of Mount Magnet Gold Mines, Ltd., and of Youanmi Gold Mines, Ltd.) is vice-president of Gaumont-British Picture Corporation, Ltd. but, according to the Financial Times of 14th October, 1936, not a member of its board.
26. The authorised capital of Gaumont-British Picture Corporation, Ltd. is £6,250,000, divided into :
£3,250,000 5^ per cent. Cumulative 1st Preference
Shares of £1. £2,500,000 Ordinary 10s. Shares. £500,000 " A " Ordinary 5s. Shares.
In addition, there is an outstanding issue of £5,160,000 4J per cent. First Mortgage Debenture Stock, while the overdraft of the Corporation with the National Provincial Bank was stated by Mr. Mark Ostrer at the last annual meeting (2nd November, 1936) to be £1,149,785 (an increase of £482,000 over the previous year and compared with only £133,171 in 1934 ; of the present sum £247,904 was stated by Mr. Ostrer to represent borrowing for film production). This overdraft is secured by an additional First Mortgage Debenture issue of £1,340,000 in favour of the bank.
27. Apart from the controlUng group already discussed, there are a number of financial, insurance and nominee companies with substantial shareholdings in Gaumont-British Picture Corporation, Ltd. The most important, from the point of view of the size of their holdings, are : —