Section C Compound Dictation
Large companies need a way to reach the savings of the public at large. The same problem, on a smaller (36) ______ , faces practically every company trying to develop new products and create new jobs. There can be little (37) ______ of raising the sort of sums needed from friends and people we know, and while banks may agree to provide short-term (38) ______ , they are generally unwilling to provide money on a (39) ______ basis for long-term projects. So companies turn to the public, inviting people to lend them money, or take a share in the business in (40) ______ for a share in future profits. They do this by (41) ______ stocks and shares in the business through the Stock Exchange. By doing so, they can put into circulation the savings of (42) ______ and institution, both at home and overseas. When the saver needs his money back, he does not have to go to the company with whom he (43) ______ placed it. Instead, (44) ______________________________________________ . Many of the services needed both by industry and by each of us are provided by the government or by local authorities. Without hospitals, roads, electricity, telephones, railways, this country could not function. (45) ________________________________________________________ , requiring more money than is raised through taxes alone. The government, local authorities, and nationalized industries therefore (46) _________________________________________________ .
