Not long ago I called attention to the growth possibilities of PILLAR HOLDINGS which moved up to 16s. 6d. and is now back to 13s. 6d. to yield 3 per cent on dividends and 6.3 per cent on earn- ings. There is a 6 per cent convertible unsecured loan stock which is quoted at about 115 to yield 5.2 per cent. The first conversion option is in 1967 at 142 shares for £100 stock which is equiva- lent to 16s. 6d.