Gaine, general manager of the company, stated before theÂ SelectÂ Committee that in the view of the directors the bargain was a hard one, because it gave no consideration in respect of the goodwill of the great business, with its gross income of over Â£ 2,000,000 per annum and its net revenue of over Â£750,000, which the company had built up. The company had had to pay for all the experiments and mistakes which are inherent in the launching and development of any new industry.