Evening star., 1941-10-29
Reuters NewsAgenc)
Placed in Trust for
Whole British Press
London and Provincial
Newspapers Divide
Control of Service
By the Associated Press.

By the Associated Press.
LONDON, Oct. 29-Creation of a
trust placing ownership of Reuters
in effect in the hands of the British
press as a whole and providing for
preservation of the news agency's
Integrity, independence and free
dom from bias" at all times was an
nounced last night.
The joint announcement by Press
Association and the Newspaper Pro-
prietors Association carried the gov
ernment's approval OF a deal which
had been defended by Sir Rodrick
Jones, former Reuters chairman. as
giving the agency "the sound under
structure of a great news agency,
ownership by the press of its coun-
try" an ideal which he said was eX-
emplifled by the Associated Press
Associated Press Structure Praised.
In the course of debate on the
deal in the House of Commons the
Minister Of Information, Brendan
Bracken. had supported newspaper
ownership of the agency as against
bitter private ownership or govern
ment trusteeship, and had specifi-
.cally praised the cooperative struc-
ture of the Associated Press in the
United States.
Under the new arrangement Reu-
terS is owned half by the Newspaper
Proprietors Association, the Trade
Association of London Newspapers,
and half by Press Association, a oc-
operative of provincial newspapers.
Under the agreement both parties
pledge maintenance of a set of prin-
clples by which the news owner
ship is to be regarded as in the
nature of a trust rather than as an
investment" and providing that
Reuters shall at no time pass into
the hands of any one group or fac
ton"
The trust is irrevocable for a
minimum period of 81 years and
thereafter is not to be amended or
dissolved without approval of the
Lord Chief Justice.
Text of Announcement.
The governments announcement
follows:
After discussion with the Chan
cellor of the Exchequer and the
Minister Of Information, the follow
ing arrangements are announced:
Press Association, who were the
sole holders of the shares of Reuters,
Limited. have decided, in co-opera-
tion with the Newspaper Proprietors'
Association, to enter into a common
and equal partnership in Reuters
and set up Reuters trust.
ITO this end the Newspaper Pro-
prietors' Association has purchased
from Press Association one-half of
the capital of Reuters. The effect
of this is that Reuters is now
owned by the British press as
whole.
Trust, Not Investment.
"A declaration of trust has been
signed by both parties setting forth
principles which are to be main
tanned under the new ownership.
which is regarded as in the nature
Of trust rather than as an invest
ment. In particular, the parties
have undertaken to use their best
endeavors to insure:
"A. That Reuters shall at no time
pass into the hands of any one in
terest, group or faction.
3d. That its integrity, independ-
ence and freedom from bias shall
ct all times be fully preserved.
&C. That its business shall be so
administered that it shall supply
an unbiased and reliable news serv-
ice to British dominion, colonial,
foreign and other overseas news
papers and agencies with which it
has or may hereafter have con-
tracts.
ID. That it shall pay due regard
to the many interests which it
serves in addition to those of the
press, and
"E. That no effort shall be spared
to expand, develop and adapt the
business of Reuters in order to
maintain in every event it's posi-
ton as leading world news agency.
Trustees Appointed.
AN equal number of trustees are
being appointed by Press Associa-
ton and the Newspaper Proprietors'
Association to carry out the above
undertaking. An independent chair
man of trustees is to be appointed
by the Lord Chief Justice. The
first trustees of the Reuters trust
are:
Lord Rothermere, Lord Camrose,
Lord Kemsley, Lord Southwood,
Mr.. J. R. Scott, Mr.. Allan Jeans,
Hon. Rupert Beckett and Mr.. w. T.
Bailey.
1.-THE management of the COM
pany will be board of six directors
representing Press Association and !
the Newspaper Proprietors' Associa-
ton. The directors of the new
board are:
"Ralph Deakin (Times),
"A. Mclean Ewing (Glasgow
Herald,
"W. j. Haley Manchester Guard
ian and Evening News, Ltd0,
II. N. Haywood (Allied News
papers, Ltd, and
Robert j. Prev DAILY MaiD.
Trust Irrevocable.
"Provision has been made that the
trust shall be irrevocable for a min
imum period of 81 years and that
thereafter it shall not be amended
or dissolved unless the matter has
been submitted to the Lord Chief
Justice, and it shall not "be dissolved
unless he is satisfied that by reason
of the circumstances then existing
it is impracticable to secure the OBJ
iects of the trust as set out above
by continuing his operation in its
present or any amended form"
The present Lord Chief Justice is
Viscount Caldecote, the former Sir
Thomas Inskip.
Samuel Storey, chairman OF Reu-
ters and Conservative member Of
Parliament, last night was reported
to have relinquished his chairman
ship and to have resigned from the
Consultative Committee of Press As
sociations because of the directors
decisjor to cOnDlete the SALE