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Aviation History
1920
1920 - 0116.PDF
JANUARY 22, 1920 COMPANY MATTERS Rolls Royce, Ltd.THE directors' report for the year ended October 31, 1918, states that it will be remembered that a dividend of10 per cent, (less income tax) was paid in December, 1918, in respect of such period, on the directors' forecast, whichit will be seen below proves to have been amply justified. After paying or providing for all trading expenses and suitabledepreciation of buildings, machinery and plant, and making due provision towards the writing down to estimated post-War value and depreciation of new buildings, machinery and plant erected and installed for munitions of war pur-poses, and after charging repairs and replacements to revenue, and after making provision for estimated excessprofits tax, the trading for the year has been ascertained to have resulted in a net profit of ^153,261 13s. 3^., as com-pared with Zi42,o56 5s. nd. for the previous year. The balance-sheet takes no account of the manufacture for Warpurposes in the United States of America,, contracts for which were financed by the British Government.The directors recommend that the balance of profits, after paying the dividends above mentioned, should be utilisedas set out in the accompanying appropriation account. The directors recommend the formation of a Workers' WelfareScheme, whereby one-half of the surplus profits above 10 per cent, on the capital (after carrying a limited sum to thereserve funds and providing for anticipated contingencies) will be applied towards houses, recreation grounds, gardensand other amenities of life for the workers. They also recommend that the workers should be allowed to subscribefor and hold during employment with the company, shares of a special class to be created for such purpose and to becalled workers' shares, the worker paying for them at par by instalments, and on leaving the company's service re-selling them to the company's nominees also at par, the shares, subject to restrictions as to disposal, having the samerights as ordinary shares. To give effect to these two last proposals will require some amendments to the company'sarticles of association, and notice of meetings for the purpose of dealing with these proposals accompany this report. The directors have recently caused a new company to beformed in the United States, under the name of Rolls-Royce of America Incorporated, to manufacture Rolls-Roycechassis and aero engines for North America and adjacent islands. It has an authorised capital of $7,500,000 preferencestock, divided into 75,000 shares of $100 each and ordinary stock divided into 75,000 ordinary shares of no nominalvalue. The preference shares are entitled to a priority of capital in a winding-up and to a priority cumulative dividendof 7 per cent, per annum. Further, after the ordinary shares have received a dividend of $7 per share, the preferenceshares participate equally with the ordinary shares until the preference shares have received 10 per cent., when anybalance of profit which it may have been determined to distribute will be payable to the ordinary shares. Thirty-fivethousand of the preference shares have been issued to bankers at $90 per cent, and have been offered to the public in Americafor subscription, and, it is stated, have been fully subscribed. Rolls-Royce, Ltd., have agreed to sell to Rolls-Royce ofAmerica Incorporated all their goodwill in North America in consideration of receiving an allotment of 35,000 of theordinary shares. A number of these shares, not exceeding in the aggregate 9,750, will be transferable to bankers andothers, as consideration for and in connection with the flotation and starting of the American company.Arrangements have been made to supply from the Com- pany's works at Derby the required technical officers, witha view to insuring the output in the United States being equal in quality to that at Derby. NEW COMPANIES REGISTERED M. L. EXPERIMENTAL, LTD.—Capital £6o,ooo, in £i shares. Acquiringcertain inventions and patents relating to apparatus for aeroplanes, etc. Under agreements (i) with O. D. Lucas and H. P. Martin ; (2) with the saidO. D. Lucas ; and (3 and 4) with Vickers, Ltd. Solicitor, F. H. E. Branson, 2, Bond Court, Walbrook, E.C.OGILVIE INSTRUMENTS, LTD., Gwydir Chambers, 104, High Holborn, W.C. 1.—Capital £8,ooo in £1 shares. Manufacturers of and dealers in aero-nautical and other instruments, etc. Under agreement with the Aeronautical Instrument Co., Ltd. First directors: G. Brewer, G. N. Ogilvie, Iieut.-CoJ.F. K. McLean, and Maj. T. P. Searight. . ..........,' 13 H 13 B3 *"' Index and Title Page for Vol. XI The 8-page Index for Vol. XI of •' FUGHT ' > (January to December, 1919) is now ready, and can be obtained from the Publishers, 36, Great Queen Street, Kings way, W.C. 2. Price 8d. per copy, post free. IMPORTS AND EXPORTS, 1918-1919. AEROPLANES, airships, balloons and parts thereof (not shownseparately before 1910). For 1910 and 1911 figures see "FLIGHT" for January 25, 1912 ; for 1912 and 1913, see "FLIGHT" for January 17, 1914; for 1914, see "FLIGHT" forJanuary 15, 1915; for 1915, see "FLIGHT" for January 13,1916; for 1916. see "FLIGHT" for January n, 1917; for1917. see "FLIGHT" for January 24, 1918; and for 1918, see "FLIGHT" for January 16, 1919. Imports. January .. February March ..April MayJune August ... September October November Dec. 1918. 49,402 5I.94I 47.93O 33.342 942,866 864,296 .834,293 566,137 505,160 294,835 410,557 Exports. Re-Exportation 1919. 555,989 704,424 97,662 136,631 1,410 67,292 172,192 132,243 44,713 1918. £ 24,765 13.545 ",451 10,815 67,224 35,65810,800 71.503 8,033 9,166 1,258,322 1,671,101 53,712 1919.£ 57,57i 57,972 72,716 25,433 38,428 41,526 41,290 60,581 65,349 87,635 67,831 80,660 1918.£ 1,000 1919. it 400 100 — — 500 — 7,200 — 2,030 6,859,081 4,173,942 539,945 696,992 1,100 10,130 H H H H AERONAUTICAL PATENTS PUBLISHED Abbreviations:—cyl. = cylinder ; I.e. = internal combustion ; m. = motors APPLIED FOR IN 1918 The numbers in brackets are those under which the Specifications will beprinted and abridged, etc. Published January 22, 19206,176. R. L. DAVIES. Clinometer apparatus for aircraft. (136,856.) 21,287. R.A.BRUCE. Tail planes. (138,882.) APPLIED FOR IN 1919 The numbers in brackets are those under which the Specifications will beprinted and abridged, etd Published January 22, 1920467. TITANINE, LTD., and P. E. BOWLES. Varnishes or dopes. (136,927.) 10,340. G. CAPRONI. Construction of wing cells of multiplane flying-machines. (125,995.) 15,279. A. AQUIRRE. Steering control mechanism of airships. (137,010.) 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 xlv, xlvi, xlvii and xlviii). NOTICE TO ADVERTISERS All Advertisement Copy and Blocks must be delivered at the Offices of " FLIGHT," 36, Great Queen Street, Kingsway, W.C. 2, not later than 12 o'clock on Saturday in each week for the following week's issue. FLIGHT The Aircraft Engineer and Airships 36, GREAT QUEEN STREET, KINGSWAY, W.C. 2. Telegraphic address: Tniditur, Westcent, London.Telephone : Gerrard 1828. SUBSCRIPTION RATES "FLIGHT" will be forwarded, post free, at the following rates:— UNITED KINGDOM s. d. 3 Months, Post Free.. 71 6 ,. „ .. 14 1 ABROAD* s. d. 3 Months, Post Free.. 83 6 „ „ .. 16 6 12 28 2 12 33 These rates are subject to any alteration found necessaryunder war conditions. • European subscriptions must bt rtmitUd in British currency. Cheques and Post Office Orders should be made payable to theProprietors 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 «* above. • :h
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