That is the statement as it was given to me. The directors, as I say, decided to get out of the business and they approached the radio commission. It is true, as has been pointed out, that these stations tost $132,000, but that was some years ago, and the directors of the Canadian National decided that, taking depreciation into account as well as the cost per annum, it was wise for them to give up the business. They therefore approached the radio commission and after some negotiation the figure of $50,000 was decided upon, with which they were perfectly satisfied. They point out as well, in the statement they have made in regard to the matter, that the whole staff of the Canadian National radio broadcasting division has been taken over by the Canadian radio commission. They consider that they have made a very good deal in getting rid of their radio broadcasting facilities by selling them to the radio commission.
Subtopic: APPROVAL OF PURCHASE OF CANADIAN NATIONAL RAILWAYS BROADCASTING STATIONS