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Aviation History
1924
1924 - 0390.PDF
JUNE 12, 1924 IMPERIAL AIRWAYS, LTD. DURING" last week-end the prospectus of the above national undertaking was published. As our readers are aware, this company has been formed for the purpose of establishing, with the financial assistance of the Treasury, an air transport service in Europe in accordance with the recommendations of the Civil Air Subsidies Committee as set out in their report of Februarv, 1923. The company has a share capital of £1,000,000, of which £500,000 in shares of £1 each at par is now issued. Provision has been made, as regards the aircraft used and the persons employed on British territory, to make the concern a strictly British undertaking, and it is laid down that shares will be allotted only to British subjects. The contract with His Majesty's Government provides for financial assistance of /l,000,000, spread over 10 years, commencing with £137,000 per annum for the first four years. The new company is acquiring as going concerns the air transport businesses until recentlv carried on by Handley Page Transport, Ltd., Instone Air Line, Ltd., Daimler Hire. Ltd., and the British Marine Air Navigation Co., Ltd. The company's board includes the leading directors of these four operating companies, viz., Sir Samuel Instone (Instone Air Line), Mr. Frank Searle (Daimler Hire, Ltd.1!, who is the managing director, Lieut.-Col. John Burnett-Lennard (Handlev Page Transport, Ltd.), Mr. Robert Scott-Paine (British Marine Air Navigation Co., Ltd.'), as well as Sir John G. Beharrell (managing director of the Dunlop Rubber Co.), and Sir Eric Geddes, who has been appointed chairman. In addition, Sir Herbert Hambling (deputy chairman of Barclay's Bank), and Mai. John W. Hills (late Financial Secretary to His Majesty's Treasury), will join the directorate as nominees of the Government. The purchase price for the business acquired is stated at £148,750. The payments under agreement to the various companies taken over as going concerns by the new company are provided for as follows :— (a) Under Contract No. 1 to Handley Page Transport, Ltd., the sum of £51,500, payable as to the sum of £17,166 in cash and as to the sum of £34,334 bv the allotment to Handley Page Transport, Ltd., or its nominee or nominees of 34,334 fully paid shares in the capital of the Company. (b) Under Contract No. 2 to Instone Air Line, Ltd., the sum of £46,000, payable as to the sum of £15,333 in cash, and as to the sum of £30,667 by the allotment to Instone Air Line, Ltd., or its nominee or nominees of 30,667 fully paid shares in the capital of the Company. (c) Under Contract No. 3 to Daimler Hire, Ltd., the sum of £30,000, payable as to the sum of £10,000 in cash, and as to the sum of £20,000 by the allotment to Daimler Hire, Ltd., or its nominee or nominees, of 20,000 fully paid shares in the capital of the Company. (d) Under Contract No. 4 to British Marine Air Naviga tion Company, Ltd., the aum of £21,250, payable as to the sum of £7,083 in cash and as to the sum of £14,167 by the allotment to British Marine Air Navigation Company, Ltd., or its nominee or nominees of 14,167 fully paid shares in the capital of the Company. No part of such purchase price is regarded as payable in respect of goodwill. It is provided that the profits of the companv, after payment of 10 per cent, on the paid-up capital, are to be divided as follows: One-third to Government for repayment of the subsidy ; one-third to reserve ; and one-third to be available for additional dividend. The prospectus states that " There are no promotion profits of anv kind and the British, Foreign and Colonial Corporation, Ltd., in view of the National importance of the business, has undertaken the whole of the work of promoting the Company and procuring the underwriting of the 500,000 shares now issued in return for actual out-of-pocket expenses only." The Secretarv is Mr. Sidney H. Dismore, and the registered offices are 43, Frederick's Place, Old Jewry, E.C. 2. The " Olympic " Model Glider IN our issue of November 23, 1923, we described the " Olympic " catapult model glider—an ingenious scientific " toy." The Alma Trading Co., 68, New Oxford Street, who market this novelty, received, on June 5 last, a letter from one of our readers in Warsaw, Poland, asking for quotations, but omitting his name and address. If this reader should happen to read this paragraph, will he please forward his name and address to us or the above firm, and his inquiries will be attended to forthwith ? SOCIETY OF MODEL AERONAUTICAL ENGINEERS AT the request of competitors the date of the *' Felix Kelly," *' Sir John Shelley," and " D. H. Pilcher " Challenge Cup Competitions has been changed. The Competitions will-now be held on Wimbledon Common, starting at 3.30 p.m., on Saturdav. June 28. "A. E. JONES, Hon. Sec. m ® m m PUBLICATIONS RECEIVED Notes on Iron and Steel. By Brig.-Gen. R. K. Bagnall- Wild, C.M.G., C.B.E. London : H.M. Stationery Office, Kingsway, W.C. Price Is. 6d. net. Twenty-Second Annual Report. Transactions of the Year 1923. The Society of Motor Manufacturers and Traders, Ltd., 83, Pall Mall, London, S.W. 1. m m m w NEW COMPANIES REGISTERED PAGET'S (ALDERSGATE), LTD., 48, Aldersgate Street, B.C.—Capital £1,000, in £1 shares. Marquee, tent, aeronautical hangar manufacturers and contractors, etc. First directors :—T. W. Nickalls, Mrs. G. M. Lebish, and G. L. Walsh. WEST INDIAN AERIAL TRANSPORT CO., LTD..—Capital £30,000. in 29,000 12 per cent, cumulative preferred ordinary shares of £1 each and 20,000 deferred shares of Is. each. Objects: To carry on in South America, the West Indies, or elsewhere, the business of carriers of passengers and goods by air, land or water, manufacturers of and dealers in aeroplanes, seaplanes, flying machines, airships, balloons, etc. First directors :—Viscount Curzon, M.P., Sir Alfred H. H. Matthews, Kt„ A. E. Turner, B.A., and Major E. W. Seale., R.E., O.B.E. Solicitor : C. C. Singleton, 18-19, Ironmonger Lane, m m m m AERONAUTICAL PATENT SPECIFICATIONS! Abbreviations: Cyl. = cylinder; I.C. = internal combustion ; m. -= motor The numbers in brackets are those under which the Specifications will be printed and abridged, etc. APPLIED FOR IN 1922 Published June 12, 1924 30,677. D. A. A. Shepperson. Aircraft for advertising purposes. (215,797.) 31,704. RAUL, MARQUIS OF PATERAS PESCARA. I.e. engines. (189,150.) APPLIED FOR IN 1923 Published June 12, 1924 7,127. L. W. BROWN. Toy helicopters. (215,894.) 9,256. DR. A. ROHRBACH. Flying-boats. (215,913.) 9.947. H. NAATZ AND LUSTUV LUFTFAHRTECHNISCHE STUDIEN-UND VERWERTUNCS-GES. Non-rigid airships. (215,923.) 9.948. H. NAATZ AND LUSTUV LUFTFAHRTECHNISCHE STUDIEN-UND VERWERTUNGS-GES. Gas-containers of airships. (215,924.) 10,561. H. O. SHORT. Hydro-aeroplanes. (215,931.) 14,256. Soc. DES AEROPLANES H. ET M. FARMAN. Brakes. (199,710.) 14,614. BOULTON AND PAUL, LTD., AND J. D. NORTH. Resilient telescopic struts. (215,982.) 15,419. INGERSOLL-RAND Co. Rotary cylinder motors. (215,991.) 18,575. CRANKLESS ENGINES (AUS.) PROPRIETARY, LTD. Air-cooling of cylinders of i.e. engines. (201,171.) tf£ 31,232. E. L. DOUHERET. Starter for aeroplane engines. (208,538.) 1 If you require anything pertaining to aviation, study "FLIGHT'S" Buyers' Guide and Trade Directory, which appears in our advertisement pages each week (see page xvili). 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 : Truditur, Westcent, London. Telephone : Gerrard 1828. SUBSCRIPTION RATES " FLIGHT " will be forwarded, post free, at the following rates :— UNITED KINGDOM ABROAD* s. 3 Months, Post Free .. 7 6 ,, ,, ..15 12 „ „ ..30 These rates are subject to any alteration found necessary under abnormal conditions and to increases in postage rates. * Foreign subscriptions must be remitted in British currency. 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 issu. direct from the Publishing Office, by forwarding remittance o; above. d. 7 2 4 3 Months, Post Free. 6 ,, if • 12 „ „ . s. . 8 .16 .33 d. 3 6 0 390
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