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THE NATIONAL Freight Company's prospectus will have been examined in detail and analysed by City institutions, merchant banks, financial analysts and other publicly quoted companies. It will, no doubt, find favour in many quarters. It will also undoubtedly have its critics.
Only time will tell how sound an investment NFC shares are. It should be regarded as a long -term speculation by those who invest. Not even its most avid supporters expect a quick return on their capital.
NFC shares are first and foremost an investment by people in themselves. It takes more than courage to gamble on the Stock Exchange. A knowledge of the market and confidence are much more important factors.
Those at NFC who have steered the company this far know the transport market; they are respected members of that market. They are confident people who have planned for success.
Allied to their expertise and confidence is another element. The participation of the workforce in the financial affairs of the company should go far to ensuring success. Greater effort and moderate wage claims should result in profitability.
Sir Peter Parker, Sir Derek Ezra and lain McGregor could do worse than follow the lead and take railways, coal and steel down the same road.
Complete state ownership never has and never will work in this or any other democracy.