CEMENT AGE

Greymouth Evening Star, 8 November 1923, Page 5

CEMENT AGE

FINANCIER’S PREPARATION. (Australian and N.Z. Cable Association.)

LONDON, November 6. The “Daily Express” states the Board of Directors associated with the Portland Cement Coy. controlling 90 per cent, of the industry and £13,000,000 of capital, have received a shock. Mr. Henry Horne, a well-known stockbroker, one of the ablest operators on the market, realised three years ago that the arrangements of the capital of the British Cement combine was such as to give any group an opportunity of,, obtaining control. After a full survey of the cement situation, and innumerable meetings of cement producers, Mr. Horne began to buy shares, and did so with such skill that the Board had no idea their authority was being undermined, especially as the shares were bought without greatly inflating the price. Mr. Horne’s new associated Anglo-Atlantic Corporation, under the chairmanship of Sir Phillip Nash, who reorganised railway transport in France, and is chairman of the Metropolitan Vickers Coy. now controls the cement industry. The promoters believe there are great potentialities for cement, not only in England and America, but in the Dominions, especially for the construction of houses. Moreover, a reduction in the cost of motor cars will mean many more cement roads. Following on the coal age and the steel age. they expect a concrete and cement age.