RALLY IN ROYAL MAILS.
Among the few favourable developments of the past week may be mentioned a decided rally in the securities of the Royal Mail Company and many of those of its associates. This recovery must be attributed not to any anticipation's of an immediate revival of prosperity, for unfortunately present conditions of trade preclude such expectations. Very wisely, however, Lord Kylsant and his co-directors have decided to take certain financial and business experts into counsel, and to invite their co-operation in dealing with a situation which, no doubt, will require time and skill to bring about more satisfactory conditions. A small but strong Committee, consisting of Mr. F. Hyde, a Managing Director of the Midland Bank Limited, Brigadier-General A. Maxwell, a Managing Partner of Glyn Mills and Company, and Sir William McLintock, has been set up to confer with the directors, while the Chairman of the Trade Facilities Act Advisory Committee, Sir William Plender, will also come into consultation with the Committee. In addition, an invitation has been extended to The Right Hon. Walter Runciman, M.P., to join the Boards of the various shipping companies, and it is stated that recom- mendations which he may make, after due examination and enquiry, as regards changes of management and administra- tion, will be considered by the Boards of the companies affected and will, with the approval of the Committee, be made effective. This invitation has been accepted by Mr. Walter Runciman and he has now been elected by the Board as Deputy-Chairman. These various announcements have been well received in the City.
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