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Aviation History
1918
1918 - 1183.PDF
COMPANY MATTERS. NEW ISSUE. THE AIRCRAFT MANUFACTURING CO., LTD.—TheBritish, Foreign and Colonial Corporation, Ltd., 57, Bishops- gate, London, E.C. 2, are receiving through their bankers,the London Joint City and Midland Bank and Lloyds Bank, applications for the purchase of £250,000 seven per cent,short term notes of £50 each at par. Interest paid twice yearly, namely April 1st and October 1st. The notes willbe redeemed at £57 10s. per note by five equal annual draw- ings of 1,000 notes each, over a period of five years commencingOctober ist, 1921, or earlier, at the company's option, but at the same premium of 15 per cent. The capital expenditure on land,buildings, plant and machinery for the purpose of extensions since the outbreak of war to March 31st, 1918, amounted to£386,664. Upon the basis of the profits for the year ending March 31st, 1918, the fixed interest on the notes is coveredmore than ten times, and, including the proceeds of the present issue, these notes will be covered by assets to theextent of more than £175 for each £50 subscribed. Allowing for the profit on redemption the average yield of the notes is10 per cent. The company is engaged in the manufacture of aeroplanes, motors and parts of every description, itsbusiness is of a most varied nature and does not depend on the manufacture of any special type of aeroplane or engine.Contracts in hand to-day are in excess of any previous re- cords, and it is to cope with this large volume of businessthat the new capital is required. The investment is an attractive one, and the subscription list closes on or beforeMonday next, October 21st. Particulars set out in the prospectus give hard facts, which,but for their authenticity over the signatures of Mr. G. Holt Thomas and the chartered accountants Messrs, LescherStephens and Co., might well be romance of the very wildest Jules Verne invention. But they are facts in figures whichcarry with them further conviction from the stupendous actualities day by day taking place in connection with themilitary and naval operations of our forces. These figures show that for nine months' working the sales have grownfrom £67,000 odd in 1913 to 4I millions sterling for nine months in 1918, the in-between years from 1914 showing£198,746, £292,557, £689,326, and £2,608,018 respectively. Resulting from these sales the nett profits for nine monthsin each year, after allowing for all charges, including excess profits liability, have progressed from £9,762 in 1913 to£663,353 in 1918. The surplus in assets over liabilities shows an equally progressive increase from £14,000 odd to £663,353- •• • ;.-. _ ' ..;.;,. .* • ~ " The Sunbeam Motor Car Co., Ltd. IN our issue of October 10th we published the directors' report for the year to August 31st, 1916. The report for the year to August, 1917, is now to hand, and this shows that the profit for the year, after paying all expenses of manage- ment and allowing for depreciation and income tax and after making provision for the estimated amount payable for excess profits duty and munitions levy for the year (but before pro- viding for directors' remuneration),amounts to £115,110 os.gd. After adding £37,392 17s. 6d., the balance from last year, and deducting £900, the half-yearly dividend on the preference shares, and £12,000, the interim dividend at 5 per cent, (free of tax), on the ordinary shares paid in April, there is a balance of £139,602 18s. 3^., out of which the following appropria- tions have been made in accordance with the resolution passed at the meeting held on November 27th, 1917 : Balance of dividend on the preference shares, £900 ; final dividend of 10 per cent, (free of income tax) on the ordinary shares, . £24,000 ; bonus of is. per share (free of income tax) on the • ordinary shares, £12,000 ; directors' remuneration (free of income tax), £5,000 ; balance carried forward £97,70218.?. 3d. Vickers, Ltd, AT the adjourned annual meeting on October 8th, Mr. Douglas Vickers, who presided, paid a tribute to Mr. Albert Vickers, the late Chairman, who he said had passed a long life of 64 years with the company t In moving the adoption of the annual report and balance- sheet, the Chairman said in 1915 they had inaugurated a policy ,'since adopted by the Ministry of Munitions, of mobilis- ing not only their own resources, but those of every outside engineering firm that they could bring together. They got together everything that could increase their output. The result, which was not shown in the balance-sheet, was an enormous output. It ran into figures of 25$ millions if they reckoned the output of the company alone, without taking into account the inter-works, or something over 29 millions if all were reckoned, j OCTOBER 17, 1918. With regard to their peace proposals he did not proposeto go fully into them—it would take too long. His refer- ences at the last meeting had been widely circulated, andthey had actually received a suggestion as to the best way to develop their peace resources. The company expectedto get a very largely increased output of ships, railway materials, motor-cars, turbines, electrical materials, gasengines, wood products, sewing machines and electrical work generally. It seemed to him that however the world might be con-stituted after*T:he war we should still be making armaments to some extent. Reconstruction after the war would keepour engineering firms busy for some time to come. There would also be a very large field for spreading British tradeabroad, for after all we had learned a good many things in this war. We had learned how to get work done on repe-tition lines in this country to an extent never before attempted by us, and he thought everything promised well for thefuture, provided only that our relations with labour were good. As to labour, he took a very promising view of the future. Sir Trevor Dawson seconded, and the resolution wascarried. At an extra-ordinary meeting which followed resolutionswere passed authorising the increase of the capital of the company to £13,500,000 by the creation of £6,450,000 newordinary shares of £1 each, ranking -in all respects pari passu with the existing ordinary shares. NEW COMPANIES REGISTERED. ANGLO-AMERICAN AERIAL SERVICES, LTD., 29A, Charing Cross Road, W.C.—Capital £100, in £1 shares. Objects, to establish, maintain and work lines of aerial con- veyances between the United Kingdom and the U.S.A., Canada and Central and South America, _and between the continents of North and South America and the various States and provinces thereof and other places, &c. Per- manent directors : Lionel Phillips, W. H. Lewis and Lieut. A. M. Willmott. A.S.C. FIRST BRITISH AND INTERNATIONAL AERIAL NAVIGATION CO., LTD., iz-14, Harrington Road, South Kensington, S.W.7.—Capital £50,000, in 45,000 ordinary shares of £1 each and iop,ooo deferred ordinary shares of is. each. Obj ects, to carry on the business of carriers of passengers, goods, mails, &c, by aerial navigation or otherwise, &c. - * * * * IMPORTS AND EXPORTS, 1917-1918. -1 AEROPLANES, airships, balloons, and parts thereof (not shownseparately before 1910). For 1910 and 1911 figures sec "FLIGHT"for January 25th, 1912; for 1912 and 1913, see "FLIGHT" forJanuary 17th, 1914; for 1914, see "FLIGHT" for January 15th,1915; for 1915, see "FLIGHT" for January 13th, 1916; for1916, see "FLIGHT" for January nth, 1917; and for 1917, see "FLIGHT" for January 24th, 1918.Imports. Exports. Re-Expor tattoo. •-•- 1917. 1918. 1917. 1918. 1917. 1918.£ £ £ £ £ £ January ... 10,842 49»4°2 67,033 24,765 — — February 9,479 51.941 26,512 13,545 6 — March ... 11,158 47,930 58,517 11,451 — I.000 April ... 21,141 33.342 21,151 10,815 :- — -:' May ... 6,877 942,866 59.713 67,224 — — June ... 2,670 864,296 14,647 35,658 — — July •... 9,104 1,834,293 106,250 10,800 — — • August ... 18,680 566,137 68,315 71,503 258 — ..I September 9,047 505,160 56,491 8,033 30 100 ; - .,- •, 98,998 4.895>3&7 478,629 253,794 294 1,100 ; >. .-:K--:/- * « « * - ••: '•&.'•'&>•. FLIGHT - .-•-; •.,; ,-:v-:: and The Aircraft Engineer, ~—-> ;_/ 36, GREAT QUEEN STREET, KINGSWAY, W.C. 2. Telgraphic, address : Truditur, Westcent, London. . >.fC. Telephone": Gerrard 1828. ~r: SUBSCRIPTION RATES. ;- "FLIGHT" will be forwarded, post free, at the following rates '—•?- UNITED KINGDOM. ABROAD. s. d. s. d. 71 3 Months, Post Free 8 3 14 1 6 „ „ .. 16 6 28 2 12 „ „ .. 33 o These rates are subject to any alteration found necessary under war conditions. Cheques and Post Office Orders should be made payable I* the Proprietors of " FLIGHT," 36, Great Queen Street, Kingsway, W.C. 2, and crossed London County and Westminsttr Bank, otherwise no responsibility will be accepted. 3 Months, Post Free 6 „ „ 12 „ „ 1184
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