FlightGlobal.com
Home
Premium
Archive
Video
Images
Forum
Atlas
Blogs
Jobs
Shop
RSS
Email Newsletters
You are in:
Home
Aviation History
1919
1919 - 0062.PDF
COMPANY MATTERS D. Napier and Son, Ltd. AT the annual meeting of D. Napier and Son, Ltd., on December 30th, Mr. H. T. Vane, C.B.E., joint managing director, who occupied the chair, in the absence of Mr. M. S. Napier, explained that the meeting was of a formal character, as, owing to the amount of extra clerical work entailed in connection with the accounts and the difficulty of settling accounts and outstanding questions with the Government, it had been impossible to have them ready. He was able to announce, however, that their turnover for the financial year ending September 30th, 1918, was again a record one. Pending the compilation of the accounts, the directors were satisfied that they could recommend a dividend of 10 per cent., less income-tax, being paid to the ordinary shareholders in respect lo the year under review. During the War period the company had been engaged almost exclusively on the production of war material for the British and Allied Governments, and thereby gained unique and valuable experience in connection with the design and manufacture of aero engines, which would be of great importance in the future developments of the company. In the course of the past four years they had erected build ings, giving additional workshops, etc., to the extent of over ioo.ooo sq. ft. ; further, they had installed considerable new and up-to-date plant and machinery without calling for any additional share capital, and, having regard to the increase in costs of material and labour compared with the pre-War period, it would be appreciated that it was important that the company's financial position should be so arranged as to enable them to cope with the higher expenditure which would be necessary in order to carry the material required for stock and work in progress, and to maintain and develop their future trade in aero engines and motor vehicles. It was, therefore proposed to ask them to-day to sanction an increase in the ordinary share capital of the company by ^200,000. When the necessary Treasury sanction had been obtained the directors would consider how much of this additional capital and upon what terms and conditions it should be issued. They had gone through a very strenuous four years of War work, and were now busily engaged making arrange ments to turn over from War to peace trade. As to the future, whilst there will be problems to solve affecting labour, a great deal depends upon how our Government decides to protect the aircraft and motor-car industries during the next few years. Both were acknowledged to have been of invaluable assistance to the Government in time of War, and it would, therefore, seem only logical to take a hopeful view as to the Government devising some adequate means to encourage and foster aero engine and aircraft manufacture ; and particularly does this concern motor-car manufacturers, who have practically sacrificed their motor-car trade during War time in order to help to place the Air Service in the foremost position it holds to-day. There should be a bright future for the company, as the Napier " Lion " aero engine has already given an excellent account of itself in the hands of the Government pilots, and the reputation for the six- cvlinder motor carriage was still maintained. It was resolved " That a dividend of 10 per cent., less income-tax, be paid to the ordinary shareholders standing on the register on December 31st, 1918, in respect of the year ending September 30th, 1918." The chairman afterwards moved " That the capital of the company be increased to ^850,000 by the creation of 200,000 additional ordinary shares of £1 each, ranking for dividend, and in all other respects, pari passu with the existing ordinary shares of the company," which was carried unani mously. Sir Lindsley Byron Peters was re-elected a director, and the meeting was adjourned. The Triplex Safety Glass Co., Ltd. THE report of the directors for the year ended Novem ber 30th, 1918, states that with regard to the year's trading, a net profit resulted of ^30,927 4s. id. With this sum it is proposed to write off the balance of the development account, namely, £2,000, also depreciation amounting to £462 7s. gd., leaving £28,464 16s. nd., and making, with the balance brought forward of £16,102 os. nd. and the interim dividend received from the Triplex Goggle Mask and Lens Co., Ltd., of £100, a total of £44,667 17s. lod. Out of this was paid a final dividend of 6 per cent., amounting to £3,600, for the year ending November 30th, 1917, a sum of £5,000 on account of excess profits tax, and an interim dividend for the year under consideration of 5 per cent, on July 15th, amounting to £3,000. The directors recommend a final dividend of JANUARY 9, 1919 5 per cent., making a total dividend of 10 per cent, for the year under consideration, absorbing £3,000, and leaving a balance to be carried forward of £30,066 17s. lod. to cover excess profits duties and other contingencies. In last year's report a note was made to the effect that the Canadian rights had been sold to a syndicate in New York for a cash consideration and share interest in the new company about to be formed there. During the current year the cash con sideration, namely, £2,500, has been received, and this sum is brought into the" accounts. With regard to the share interest, this is not yet to hand owing to delay in correspon dence, but for the information of the shareholders the directors report that this interest amounts to 7,500 shares in the com pany formed, which has a total capitalisation of 100,000 shares. The designation of the company in question is the Triplex Safety Glass Corporation of America. NEW COMPANIES REGISTERED CECILE, LTD.—Capital, £5,000 in £1 shares. Tinsmiths workers in metals, constructors in motor and aircraft and other works, etc. CHESTER ENGINEERING CO. (1918), LTD.—Capital £30,000, in £1 shares. Mechanical, electrical and aero nautical engineers, etc. First directors : H. Burroughes and G. A. Peck. H H M 0 PUBLICATIONS RECEIVED The Physiology of Industrial Organisation and the Re-em ployment of the Disabled. By Prof. Jules Amar. London : The Library Press, Ltd., 26, Portugal Street, W.C. Price 305. net. The " Ascol News " Desk Mirror and Calendar, 1919. The Aircraft Supplies Co., Ltd., Ascol House, 125, Long Acre, W.C. 2. Desk Calendar, 1919. Edgar Allen and Co., Ltd., Imperial Steel Works, Sheffield. Table of Sizes, Weights, Lengths, etc., of Round Wire. John Rigby and Sons, Ltd., Adelphi Wire Mills, Salford, Man chester. B HI HI H Aeronautical Patents Published Abbriviations:—cyl. = cylinder; I.C. = internal combustion ; m. = motor*. APPLIED FOR IN 1915 Published January gth, 1919. 15,014. F. SAGE AND CO. and E. C. G. ENGLAND. Aeroplanes. APPLIED FOR IN 1917 The numbers in brackets are those under which the Specifications will be printed and abridged, etc. Published January gth, 1919. 9,750. F. SAGE AND CO. and E. C. G. ENGLAND. Fuel, water or oil supply in engines of aircraft, etc. (121,300.) 18,170. F. P. DRIVER. Petrol tanks for aircraft. (121,323.) APPLIED FOR IN 1918 The numbers in brackets are those under which the Specifications will be printed and abridged, etc. Published January gth, 1919. 61. F. W. CHAMIER and W. F. HOWARD. Aerial machines. (121,378.) 1,792. H. C. DICKSON. Tubes, stays, struts, etc., for 'planes, tail, body, etc., of aerial craft. (121,389.) 2,160. G. C. ST. Louis and C. PEARSON. Heavier-than-air flying machines (121.393.) ! If you require anything pertaining to aviation, study «'FLIGHT'S" Buyers' Guide and Trade Directory, , which appears in our advertisement pages each week (see pages lvii, lviii, lix and lx>. FLIQ HT and The Aircraft Engineer, 36, GREAT QUEEN STREET, KINGSWAY, W.C. 2. Telegraphic address : Truditur, Westcent, London. Telephone : Gerrard 1828. SUBSCRIPTION RATES " FLIGHT " will be forwarded, post free, at the following rates :— UNITED KINGDOM. ABROAD, s. d.i s. d. 3 Months, Post Free.. 7 1 3 Months, Post Free.. 8 3 6 „ „ .. 14 1 6 „ „ .. 16 6 12 .. ., .. 28 2 I 12 ,, ,, .. 33 o These rates are subject to any alteration found necessary under war conditions. Cheques and Post Office Orders should be made payable to the Proprietors of " FLIGHT," 36, Great Queen Street, Kingsway, W.C. 2, and crossed London County and Westminster Bank, otherwise no responsibility will be accepted Should any difficulty be experienced in procuring " FLIGHT " from local newsvendors, intending readers can obtain each issue direct from the Publishing Office, by forwarding remittance as above. 62
Sign up to
Flight Digital Magazine
Flight Print Magazine
Airline Business Magazine
E-newsletters
RSS
Events
