WHEELS OF INDUSTRY.
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The wheel of wealth will be slowed by all difikulties of transport at whatever points arising, as a carriage is by the roughness of the roads over which it runs."—John Beattie Crozier.
Tilling-Stevens Flotation.
The subscription list of TillingStevens Motors, Ltd., opens on Thursday next, November 27th. The directors have fixed the capital at £650,000, divided into 300,000 7• per cent. cumulative participating preference shares and 350,000 ordinary shares, all of one pound each. The issue at par is of the whole capital except 10,000 of each class of share reserved for subscription by employees of the company, whilst 76,167 preference shares and 174,770 have been allocated for issue among the shareholders of the old company. The directors are Messrs. Walter Wolsey, Jnr. (chairman), Geo. Foster Clark, J.P., R. M. Tilling, 31.I.A.E. B. T. Rumble, A. G. Mickleburgh, and P. H. Frost Smith, the two last-named being joint managing directors. The value of the assets, exclusive of goodwill and patents, but including the proceeds of the present issue, totals to £633,102. The percentage of profits on issued, capital have risen from 8.94 in 1915 to 32.92 in 1918. In the latter year the dividend was 25 per Cent.
Exhibition Notes.
The exhibits at the Royal Agricultural Hall cover a large number of processes and the supply of special materials for road making. Owing to great pressure on our space in this issue (which, by the way, closely approaches in size the record of the paper), we propose to deal with thirr subject in our next issue.
During the silent hours of the nights immediately preceding the opening of the Roads and Transport Exhibition, various vehicles passed out through the portals a the Royal Agricultural Hall because it had been decreed that they did not fall within the limits of the definition of municipal service that had been laid down. The underlying reason for cutting
the limit fine was very obvious, but, in our opinion, the definition should have been broadened, because an exhibition which aims at appealing to so extensive and so important a body of Men should have been as comprehensive of appropriate vehicles as possible.
The Public Works Exhibition, which is running at the Royal Agricultural Hall concurrently with the Roads and Transport Exhibition, occupies the gallery, and is devoted to the exhibits of _constructional firms who are paying special attention to housing scheme& The organizer of the two exhibitions is Mr. A. F. May, managing director of Municipal Agency, Ltd., and the chief organizer of the great metropolitan war loan campaign of 1917. He has done his work well and has earned much praise from the exhibitors for his helpfulness and general courtesy.
The programme for the remaining two days of the Roads and Transport Congress and Exhibition, which opened on Thursday last and remains open until to-morrow, will include, on Tuesday at 2.30 p.m., papers on "The weight, construction and speed of heavy motor vehicles in relation to the construction and maintenance of roads," by Mr. W. D. Williamson, 3I.I.A.E. of Walker Bros. (Wigan), Ltd. Mr. oeorge Hoare, of W. Task& and Sons, and Mr. A: D. Brookes, County Surveyor and Engineer to the Durham County Council.
On Wednesday a paper will be read by Mr. W. Rees Jefferies on "The future traffic d,evelopments : (a) the provision of new roads; (b) road finance; (c) the provision of new transport services." Admission to the exhibition is is. 3d.
A light railway, 4i miles in length, which is stated to he the first completed in this country since the Armistice, was opened on Thursday last at Leighton Buzzard.
• The Guy Two-tonner.
During Olympia Show it was rumoured that Guy Motors Ltd., were going to cease or reduce the e output of their twoton commercial vehicle and concentrate on their eight-cylinder touring car. This is entirely without foundation and, as a matter of fact, there is such a large demand for the company's two-ton lorries that they have in hand, for this side of the business alone, extensions at the present time to the value of over £70,000. They are hoping in the very near future to increase their output to 40 to 50 lorries per week. 'The touring car will be produced in an entirely separate works.
Inst. A.E. Paper.
The fourth meeting of the session of the Institution of Automelaile Engineers will be held in the hall of the Institution of Mechanical Engineers, Storey's Gate, St. James's Park, London, S.W.1, on Wednesday, December 3rd, at 8 p.m.; when Mr. Edgar N. Duffield will read a paper entitled "Oar Design and Car Usage froth the Point of View of the Majority of Owner-Drivers." A card of invitaltion to the meeting may he obtained on application to the Secretary, Institution of Automobile Engineers, 28, Victoria Street, London, S.W.1.
Peerage for Sir Albert Stanley.
According to a daily paper, Sir Albert Stanley, M.P. for Ashton-under-Lyne, is resigning his seat in Parliament, and will at an early date be offered a peerage. He is, as we need scarcely say, managing director of the Underground Electric Railway Co. and Of the L.G.O.C., and recently took a leading part in the preliminary steps towards the formation of the Institute of Tnaimport. He became President of the Board of Trade in the first administration of Mr. Lloyd George, resigning that post last May on account of ill-health.