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Aviation History
1934
1934 - 0044.PDF
FLIGHT, JANUARY 11, 1934 finning for the cylinder and a lighter and more frictionless type of rocker gear as well as improved porting. The fan speed has been increased and gives a higher rated altitude, while the take off has been improved owing to an increase in the maximum permissible boost from 0 to +1£ lb. Comparison of the old with the new types is worth giving.—Old Type: 535 h.p. at 3,000 ft. at 2,000 r.p.m. normal. New Type: 560 h.p. at 5,500 ft. at 2,100 r.p.m. normal. The 14-cylinder " Panther VII " is a supercharged ver- sion of the VI and is rated at 540 h.p. at 12,000 ft. The 14-cylinder " Tiger " is a larger version of the " Panther " and has been the subject of continual develop- ment during the past season. Encouraging results have been obtained, and, while the rating at the moment is 640 h.p., it is expected to be considerably increased during the near future. At the Whitley Works of Sir W. G. Armstrong-Whit- worth Aircraft Co., Ltd., various types of the company's A.W.XVI (a single-seater with a top speed in the neigh- bourhood of 200 m.p.h.) have been continually developed. One type has been produced as a fleet fighter and as a day and night fighter. In both cases the aircraft is notable for its exceptionally good control, especially at low speed, and for the excellence of its detail work. In addition to experimental work on new types of air- craft of advanced design, the factory has been busily em- ployed on Air Ministry contracts, not only for complete machines, but also for spare parts. An interesting side line has been the successful develop- ment of stainless-steel floats, of which the company claims to be the pioneer. These floats are claimed to have a much longer life than those made of other metal and to give the same buoyancy for approximately the same weight, Important work has also been undertaken in connection with metal propellers, which are not only independent of climatic changes, but also proof against wear and tear caused by flying stones, rain or hail. Work in the wind tunnel has proceeded continuously, and a great deal of valuable information in regard to the design of cowling and fuselage has been collected and will be, later on, incorporated in new designs of aircraft. THE INDUSTRY FAIREY AVIATION CO. ANNUAL REPORT ""THE Fifth Ordinary General Meeting of the Fairey Aviation Co. was held at Winchester House, Old Broad Street, London, E.C., on Friday, December 29. Mr. C. R. Fairey, M.B.E., F.R.Ae.S., the chairman and managing director,presided. In his speech, he said that it was with deep regret that he had to record the death on December 3 of Mr. A. G. Hazel], the secretary of thecompany and a member of the board since its incorporation. Mr. Hazell had been associated with the company and its predecessors for nearly18 years, and was one of the small band who had helped to build it up from the beginning. His death would be a very severe loss to all. The resultof the year's working, ended September 30, 1933, showed a profit of £116.682 14s. Id., a fall of £81,827 3s. from that of the company's peakyear, 1932, but in view of the difficulties encountered during the year this result was regarded as satisfactory. The directors recommended a dividendof 10 per cent., less tax, and the carrying forward of the balance. The cause of the drop in profits, the chairman continued, was the shrinkage in theturnover of business done with the Air Ministry. The export trade had again i ncreased and reached the highest figure the company had yet attained.The reduction in business with the Air Ministry was due chiefly to the fact that there had been less re-equipment this year of squadrons using thecompany's types of machines, and to a change in the official policy, also no production orders had been obtained for the new types available.Mr. Fairey then turned to the foreign business of the company. The subsidiary company, Avions Fairey of Gosselies, had been on full productionthroughout the year and had good orders in hand. The best successes abroad had been in Belgium and South America. During the year twonew models of the types supplied to the Belgian Army had been produced and would shortly be submitted for test. To meet the requirements ofthat country the establishment of the company was being extended. The business in the manufacture of all-metal propellers continued to begood, but exports trade in this particular was limited by the conditions of the company's licence. The long-distance record, won by Squadron Leader Gayford and FlightLieutenant Nicholetts, was flown on a Fairey machine with a Napier engine. Turning to the detailed items in the accounts, the principal change is inthe absence of the debenture stock and the corresponding effect on the cash in hand. The entire balance of the debenture stock, amounting to£220,300, was redeemed on June 1 last at 110 per cent., in accordance with the provisions of the trust deed securing such stock, by the companyexercising its power to give three months' notice to the trustees to redeem. The reduced turnover for the year was reflected in the fall in the amountsfor work in progress and stock, and the latter item is further reduced by the drastic writing off of old stocks. The fall in the item of investments isdue to the redemption of certain securities. The remaining investments had a market value of £16,475 14s., about £1,800 in excess of book value.The item for amounts due from subsidiary companies was high at the time of making up the accounts, but of this £40,000 has since been paid. Properdepreciations had been made and the directors considered that the balance- sheet showed a sound financial position. Mr. Fairey mentioned that the results from the Air Survey Company hadproved disappointing, consequently the company's establishment had been cut down to the very minimum, and Mr. R. C. Kemp had left for India toreport on conditions there. The experimental side was very busy with the design and production ofcertain new types for next year's programme. The company were also engaged on another important activity with a view to strengthening theirbusiness, with the approval and knowledge of the Air Ministry. Owing to the provisions of the Official Secrets Act, no disclosure of any kind couldbe made concerning this. Turning to the future, the chairman said that it was never possible tocontemplate very far ahead what orders might come in, but very important Air Ministry competitions to be held next spring and summer would havean important bearing on the company's prospects. No efforts were being spared by the company in preparation for this competition. There hadbeen a marked slowing up of recent years in the time taken to introduce new types into the Royal Air Force, largely due to the elaboration of theprocedure i n fostering of experimental designs and the length of time taken in the trials. During all this time the companies concerned are investingmoney in the prototype, and at the end of the time the machine may not go into production, even after successfully completing its trials, owing toa change in policy by the authorities. If this country is to keep its place in military aviation and its present technical ascendancy, the time had come, emphasised Mr. Fairey, when steps should be taken to speed up the entireprocedure, which he understood was actually under consideration. Mr. Fairey, commenting on the Air Force, then said that although therehad been a certain amount of talk of the necessity of increasing the British Air Force no active steps had yet been taken, and such as are mentionedappeared to be entirely inadequate. Whatever the future policy might be there seemed little justification for maintaining the Royal Air Force at itspresent size, since it was altogether too small to cope with the air forces of any first-class power, and had no adequate reserve of machines to bridgethe gap between the outbreak of a national emergency and the time when the industry could adjust its output to the vastly greater demand that wouldthen ensue. The relations of the company with the Air Ministry continued to beexcellent, and in view of the prompt and reliable service which the company had always given the Ministry the Chairman thought they were justifiedin assuming that they would continue to receive official support. DE HAVILLAND AIRCRAFT CO. ""THE Annual General Meeting of the de Havilland Aircraft *• Co., Ltd., was held at the Stag Lane Aerodrome on Saturday, December 30. The following is a resume of the Chairman's report: — Mr. A. S. Butler, the chairman, in referring to the balance sheet pointedout that the note stating that a contract had been entered into for the sale of the greater part of Stag Lane Aerodrome for approximately £105,000 wasonly a statement of fact. No part of the transaction had come into the past year's accounts. The company were left with 14 acres on which the worksstood and roads immediately surrounding them. It should be understood * that the cost of the new factory at Hatfield could not be met from theproceeds of the sale of Stag Lane only. Whether the difference could be bridged over by the sale of the factory was a matter on which it was notpossible to give an opinion. The Directors, however, did not anticipate any shortage of working capital. Mr. Butler also mentioned £24,133 which hadbeen used to purchase land adjoining Hatfield Aerodrome, and a purchase of freehold property which was a hostel for those engaged on flyingduties at Hatfield. There had been an increase in the amount invested in subsidiary com-panies, which was due to further shares having been taken out in the de Havilland Aircraft Co. of South Africa (Pty.), which company had shown apleasing increase in business. Turning to the profit and loss account, the chief item of interest was theincreased gross profit, which stood at £104,629 3s. 4d. The directors considered that it was preferable that the shares of the com-pany should be " officially quoted " on the Stock Exchange, which would tend to cause them to be held in higher esteem in financial circles and assist in themaking of a freer market in the shares. Turning to the company's foreign interests, the chairman said that thegeneral business in Canada had been at an extremely low ebb, and he regretted that there had been a further reduction in the amount of businessdone by the Canadian company. The profit and loss account, however, showed a large improvement over that of last year. The de Havilland Air-craft Company of Australia had made a small loss, though their year's working showed a slight increase in sales, and the company, in general, is in a betterposition than it has been for some years. The South African factory had increased its business, as already mentioned. The Indian branch had made asmall profit and was improving its general business. Mr. Butler then dealt with the success of the " Dragon." One of its mostnotable achievements, he said, was on the London-Paris air route operated by Hillman's Airways, where 100 per cent, reliability had been maintained. A quantity of these machines had been purchased by the Iraqi government fnr milit-iT-ir i,cu " TWa (y^nc " Vtrt^ >t*.*in Cr»1H nlltciHf* tlte ftHtt<ih TelPS in jypt, Iraq, Persia, and Spain. The " Leopard Moth," built to replace the for'military uses. "Dragons" had bee sold outside the British Isles iAfrica, Algiers, Australia, Canada, Czechoslovakia, Egypt, France, India, " Puss Moth " had won the King's Cup, and good business had been done withthe " Fox Moth " and the ordinary " Moth'' in various forms. Orders for, the " Tiger Moth " had been received from Persia, Brazil, China, Denmark,Poland, Portugal, and Spain. In conclusion the chairman mentioned the removal of the London Aero-plane Club to Hatfield, the de Havilland School of Flying and the securing of a new contract with the Air Ministry for the training of reserve officers.He formally moved the adoption of the accounts and balance-sheet as sub- mitted and the payment of a dividend at the rate of 7A per cent., less incometax at the rate of 5s. in the pound. 44
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