COMMERCIAL

Evening Star, Issue 19772, 24 January 1928, Page 3

COMMERCIAL

IN A SOUND POSITION. ECLIPSE PETROL ECONOMISER. A meeting of the board of the Eclipse Petrol Economiser System 00., Ltd., was recently held to consider a lengthy report by the chairman (Mr Norton Francis) concerning the position of the company’s interests in England and America. After lull consideration of the report, the board decided to advise the shareholders ot the chairman’s opinions. The agreement for the sale of the English rights has now been confirmed by the American company, and the third annual payment on account of advance royalties will shortly be remitted to the New Zealand company. Shareholders will remember that the two previous years’ payments were shown as a contingency on the last balance-sheet because the American company had to approve of the English patents before the agreement was finalised.

The chairman had learned that Mr Godward and the company's patent agents in London and New York considered the position of the various patents quite satisfactory in the United Kingdom, the Continent, and America. He also reported that, in his opinion, tho directors of the American company were well disposed towards the New Zealand company, which Was fortunate in having its affairs in such good hands. By the end of the present year it is anticipated that the American company will have spent over £30,000 in development work and advance royalties, and so long as this experimental and research work continues sufficient capital must bo found. In the meantime the American company is undertaking this burden and is prosecuting tho work very thoroughly. The directors do not propose to report fully on the progress made by Mr Godward in his device in this memorandum, because arrangements have been made with the American company to grant Mr Godward a much-required and well-earned holiday. When the chairman left New York it had been decided that Air Godward should get away some time in this month (January), spend a few weeks in New Zealand, and return to New York in their spring with restored energy to continue his good work, which it was hoped would soon result in final success. If Mr Godward is in New Zealand in April the annual meeting will be held in that month to enable shareholders to got the very latest information direct from him. 'Should it be impossible to hold the annual meeting during Air Godwards’ visit to New Zealand a special meeting of shareholders will be called so that they will have an opportunity of learning all about recent dei velopments and the great possibilities of the vaporiser. The Chairman reported that conditions may be expected to change rapidly, and that, if only the American company can bring the apparatus to perfection, in respect of both gasoline tend fuel oil running, before some other method is found to depreciate the value of the vaporiser, success appears to be assured. In tho opinion of two eminent American engineers, who are fully conversant with the extraordinary results achieved by the vaporiser at various trials, final success is certain, although there is probably a considerable amount of extensive research wank to be undertaken before suooas* can be achieved. On the otbar fend, better and more economical running 'of motor engines universally is being sought, and revolutionary progress in other, directions may destroy the commercial ralue of the vaporiser.

Air Francis’s co-directors unanimously expressed the opinion that his visit and thorough inquiry in England into the question of British and Continental patent rights, and in America into tho immediate relations with the American company and the general prospects, have been of very considerable value to our company. Undoubtedly the chairman’s visit has enabled the position in both directions mentioned to be consolidated in a manner which, in other circumstances, the company could not have accomplished without very great expense. The directors look upon the general position a.s decidedly hopeful, with the Eclipse Company itself in a. sounder position than it has been at any previous stage. RUTTER AND CHEESE. The National Mortgage and Agency Co., Ltd., has received the following cable from London “ Butter: Market steady; 152 sto lots. Cheese: Market quiet; white and colored, 90s to 915.” LONDON WOOL SALES. Messrs Alurray, Roberts, and Co., Ltd., are to-day in receipt of a cable from' their London agents, dated 20th instant, giving quotations as under:— “ 56’s (yielding 60 per cent.), 25^d; 50’s (yielding 65 per cent.) 22jd: 44’s-46’s, preparing (yielding 74 per cent.), 18|d; 44’s-46’s, carding (yielding 72 per cent.), ISJd; 40’s44’s (yielding 73 per cent.) and 36's40's (yielding 75 per cent.), practically none offering; 60’s-64’s (New Zealand merino, yielding 4S per cent.), none offering.