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Aviation History
1932
1932 - 0294.PDF
FLIGHT, MARCH 25, 1932 AIRCRAFT COMPANIES' STOCKS AND SHARES '"THE stock and share markets have now shaken off the temporary uncertainty arising from the crisis affecting the Kreuger group of companies, and the tendency is for industrial shares to move in favour of holders. The further reduction in the Bank rate, the position of sterling and hopes that the Budget may give some relief in respect of taxation are factors which help to maintain a cheerful undertone. Shares of companies connected with the air craft and allied industries have reflected the better market tendency. D. Napier & Son's ordinary, for instance, are 10£d. higher on the month at 4s. 7|d., despite the absence of a dividend for the past year and the decline in net profits from £169,905 to £21,562. No less than £58,670 of this decline is accounted for to meet depreciation in British Government securities as at September 30 last, when the company closed its year. No doubt much of this depreciation has since been recovered. The market was favourably impressed by the strong financial position again shown and by the decision to broaden the company's field of manufacture. Despite the cut in the dividend from 8 to 5 per cent., Vickers are 7s. 4|d., as against 8s. 6d. a month ago, and are now supported on any reaction presumably on the hope that the iron and steel in dustry will receive additional tariff benefits before long. A point of interest has been a gain of Is. 3d. on the month by de Havilland, which are now quoted at 16s. 3d. follow ing market reports that the company's business is increas ing and an order for the supply of machines for the Brazilian Navy. Fairey Aviation have been steady around 15s. ; a further increase in the dividend is being talked of in the market. Handley Page preference have been quiet ; in some quarters there is considered to be the possibility that these shares will benefit from their partici pating rights in respect of the past year. Brown Brothers Name. Anglo-American Oil Armstrong Siddeley Develop. Birmingham Aluminium Castg Booth (James), 1915 Do. do. .. . British Aluminium Do. do. British Celanese British Oxygen Do. do. British Piston Ring British Thomson-Houston Brown Brothers Do. do. Dick (W. B.) .. De Havilland Aircraft Dunlop Rubber Do. do. En-Tout-Cas (Syston) .. Do. do. Fairey Aviation Do. do. Firth (T.) & John Brown Do. do. Ford Motor (England) Fox (Samuel) Class. Nominal Last Current Amount Annual Week's of Share. Dividend. Quotation. Deb. Cum. Pref. Ord. Ord. Cum. Pref. Ord. Cum. Pref. Ord. Ord. Cum.Pref. Ord. Cum. Pref. Ord. Cum. Pref. Cum. Pref. Ord. Ord. " C " Cum.Pref. 16/ Def. Ord. Ptg. Pfd. Ord Ord. 1st Mt. Deb. Cum. Pref. Cum. Pref. Ord. Mt. Ptual. Deb. Deb. Ptg. Pref. Ord. Cum. Pref. Ord. Ord. Cum. Pref. Ord. Ord. Cum. Pref. Pref. Ord. Ord. Cum. Pref. Stk. £1 £1 £1 jri £1 101- ('• O £' £1 £1 'J £io £i l/-5 - 10/- Stk. £1 £1 £1 Stk. Stk. 5 BJ 5 15 7 5 6 Nil 8B (U in 7 10 H 10 Nil 8 10" 8 6D 5*D 10 £1 £1 £1 £S £5 £« 5/- £1 £1 2/-£i £1 £i £1 1/- £1 £1 £1 £i £io £i 6/8 £1 a 12i Nil 7* 3 Nil 6 20 Nil 8 Nil 6 11 10 Nil 7 71 15 17** 5 Hi 99j 12/6 19/6 41/6 22/- 25/- 20 — 8/6 11/10| 16/3 25/- 23/- 26/3 22/6 112/6 16/3 11/3 11/10J H- 1 Ml 15 11 105 8 6 8/- 23/9 722 97* 10/6 15/1J 13/9 14/9 55/- 75/- 61/3 4/7* 18/9 16/101 -/St 17/6 17/6 Goodyear Tyre & Rubber Handley Page Hoffmann Manufacturing Do. do. Imperial Airways Kavser, Ellison Do. do. Lucas (Joseph) Napier (D.), & Son Do. do. Do. do. National Flying Services Petters Do Roe (A.V.) (Cont. by Arm- strong-Siddeley Devel., q.v.) Ord. Rolls-Royce Ord Smith (S.) & Sons (M.A.) .. Def. Ord. Do. do. .. Ptg. Pfd. Ord. Do. do. .. Cum. Pref. Serck Radiators .. Ord. " Shell " Transport & Trading Ord. Do. do. .. Cum. Pref. Triplex Safety Glass .. Ord. Vickers Ord Do. .. .. .. .. Cum. Pref. Vickers Aviation (Cont. by Vickers, q.v.) Westland Aircraft (Branch of Petters, q.v.) .. Whitehall Electric Investmts. Cum. Pref. £1 7£ 22/- *Dividend paid tax free, E Rate per annum for nine months. c £1 unit of stock. t> Last xd. on March 19, 1931. 35/- 1/6 12/6 15/- 30/- 39/4A m~ 34/- 7/4i 17/9 were marked up sharply from 22s. 6d. to 26s. 3d. on the good profits and the maintenance of the dividend for the past year. Imperial Airways have gained Is. 3d. on the month on hopes that traffics will continue to grow and on the possibility that the company is in a better position to compete for traffic than a year ago owing to the lower external value of the pound sterling. Rolls-Royce show an advance of nearly 5s. on the month ; the results which show a decline of less than £3,000 in profits confirm the hope mentioned here last month that the distribution would be maintained at 10 per cent. A statement is ex pected at the meeting regarding the future of Bentley Motors which the company acquired late last year. Ford Motor continued to lose ground on persistent talk of a large cut in the dividend. Joseph Lucas put on Is. 3d. on the expectation that the interim dividend will be main tained. Business around 2|d. has been recorded in National Flying Services since the issue of the report. * ;.+; PUBLICATIONS RECEIVED U.S. National Advisory Committee for Aeronautics Reports: No. 393, Span-Load Distribution as a Factor in Stability in Roll. By M. Knight and R. W. Noyes. Price 10 cents. No. 396, Hydraulics of Fuel Injection Pumps for Compression-Ignition Engines. By A. M. Rothrock. Price 25 cents. No. 398, Investigation of Damping Liquids for Aircraft Instruments—II. By M. R. Houseman and G. H. Keulegan. Price 15 cents. No. 400, The Aero dynamic Characteristics of a Slotted Clark Y Wing as Affected by the Auxiliary Aerofoil Position. By C. J. Wenzinger and J. A. Shortal. Price 15 cents. Superin tendent of Documents, Washington, D.C., U.S.A. Lubricating Oil Tests and Their Significance. By J. E. Southcombe. Henry Wells Oil Co., Ltd., Salford, Man chester. Price 2s. 6d. Abyssinia, 1929-31. An Aero-Philatelic Guide. By N. C. Baldwin. Francis J. Field, Ltd., Sutton Coldfield. Price 9d. British Legion Annual Report and Accounts, 1930-31. British Legion, 26, Eccleston Square, London, S.W.I. AERONAUTICAL PATENT SPECIFICATIONS (A bbrtviaHons : Cyl. — cylinder ; i.e. =• internal combustion ; m. — motors The numbers in brackets are those under which the Specification will be printed and abridged, etc.) APPLIED FOR IN 1930 Published March 24, 1932. 24,763. ALUMINUM, LTD. Screw propellers. (367,791.) 25,689. ALUMINIUM, LTD. Screw propellers. (367,868.) 28,019. BRAITHWAITE & Co., ENGINEERS, LTD., J. C. TELFORD and J. HINES. Manufacture of aerodromes and like surfaces. (367,766.) 31,746. VICKERS-ARMSTONGS, LTD., and B. W. A. DICKSON. Aircraft gun- mountings of the spring-balanced ring type. (367,845.) 32,382. G. DE GASENKO. Hydroplanes or the like. (367,875.) 35,147. G. M. WILLIAMS. Aircraft. (367,880.) 36,486. AIRCRAFT PATENTS, LTD., and G. H. COOKE. Load carrying and release gear for aircraft. (367,931.) APPLIED FOR IN 1931 Published March 24, 1932. 8,668. W. SWIATECKI. Bomb-releasing devices for aircraft. (368,085.) 11,478. J. M. HANDLEY. Propelling-mechanism for aircraft. (368,121). 11,886. M. G. A. CORNET. Braking device for air screw-driven vehicles. (368,127.) 14,600. W. A. TOOMEY. Rotary i.e. engines. (368,144.) 18,357. D. NAPIER & SON, LTD., R. W. VIGERS, and E. E. CHATTERTON. Fuel-injection devices for i.e. engines. (368,173.) FLIGHT, The Aircraft Engineer and Airships. 36, GREAT QUEEN STREET, KINGSWAY, W.C.2. Telephone (2 lines): Holborn, 3211. Holborn, 1884. Telegraphic address: Truditur, Westcent, London. SUBSCRIPTION RATES POST FREE UNITED STATES NGDOM s. 8 16 33 d. 3 6 0 OTHER 3 6 12 COUNTRIES Months it s. 8 17 35 d. 9 6 0 UNITED 3 Months 8 3 3 Months $220 6 16 6 6 $4-40 12 „ 33 0 12 „ $8-75 Cheques and Post Office Orders should be made payable to the Proprietors of " FLIGHT," 36, Great Queen Street, Kingsway, W.C.2, and crossed " Westminster Bank." Should any difficulty be experienced in procuring " FLIGHT " from local newsvendors, intending readers can obtain each issue direct from the Publishing Office, by for warding remittance as above. 270
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