At the meeting held last week of Turner and Newall,
Ltd., the new chairman, Mr. Samuel Turner gave some very interesting details with regard to the proposed amalgamation of the business with that of the Rhodesian General Asliestos Omporation. On the previous day, at the meeting of the latter company, Sir -Edmund Davis had shown the good grounds existing for the merger of the two businesses, and the position was stated very fully and clearly by Mr. Samuel Turner. He explained that on the completion of the amal- gamation, the Turner and Newall group would become possessed of the major part of the superior grades of raw asbestos now produced and that the quantity of its reserves would be practically unlimited. The report itself was an excellent one, the company having just declared a final dividend of 15 per cent. on the ordinary, making 171 per cent. for the year.
Previous page