JET PLANES

Grey River Argus, 10 January 1944, Page 5

JET PLANES

RUSH TO BUY SHARES High Fuel Cost [Aust. & N.Z. Press Assn.] '(Rec. 9.50.) LONDON, Jan. 9. The Daily Express city editor says: News of the jet-propulsion plane caused a bigger stir in London on Friday than any invention of recent years. It sent speculators hurrying to sell aircraft-propellor shares on the theory that they may be adversely affected. The shares of companies believed to be concerned in the development of jet propulsion planes were eagerly brought. People also came, panicking, to sell RollsRoyce pound shares, which dropped three shillings to 101 shillings. Shares of the De Havilland Co. which has big propellor interests were bought because people associated the Coy with the new invention. It may be a very long time before jet planes affect the earnings of the aircraft industry. Their disturbing influence on share prices should soon wear off.

Group Captain Whittle worked day and night on the invention, and he took no leave from the beginning of the war until last Summer, but he was back at work after a week. The “Daily Express” aviation editor says: Captain Whittle named the jet-propulsion plane the “Gyrone.” The Associated Press of Great Britain says: Major Alexander Deseversky, the noted aeronautical designer, is of the opinion that jetpropelled aircraft would not be employed extensively foi' distance flying. He'believes its high fuel consumption will limit jet-propulsion to home defence interceptors and to heavy carrier-based bombers. It also might permit heavier bomb loads for existing bombers, and give them added speed for avoiding attackers. The new aircraft is described as the most exciting Invention since radio location was announced in June, 1941. It was reported that when the new aeroplane first flew over the Home Counties district of England many people rushed to shelter, thinking that a heavy bomb was screaming down. The aeroplane’s arrival was heralded by a distant screech which increased in volume until it _ resembled the sound of a giant whistling- kettle on the boil. As it passed overhead the rumble of the powerful engine mingled with the whistle.