3 MARCH 1923, Page 2

So they recommend a scheme under which the Government guarantee

a million spread over ten years on condition that a large company shall be formed (with not less than 1500,000- subscribed capital) which will be willing to carry. on civil aviation at its own risk and for its own profit, after satisfying. certain liabilities to the State. Apparently such a company can and will be formed if the Cabinet adopts the scheme. Hence a reserve of aviation plant will be created for war, and large-scale experiments can be conducted by the company in the security of continued Government support.