NEW ALLIED JET PLANE

Nelson Evening Mail, Volume 79, 10 January 1944, Page 5

NEW ALLIED JET PLANE

EFFECT ON COMPANY SHARES London, Jan* 8. News of the jet propulsion plane caused a bigger stir in the city yesterday than any invention of recent years, says the “Daily Express’s” city editor. It sent speculators hurrying to sell aircraft propeller shares on the theory that they may be adversely affected, but shares of companies believed to be concerned in the development of jet propulsion planes were eagerly 'bought. People also came panicking to sell Rolls Royce pound shares, which dropped by 3s to £5 Is. Shares of de Havilland, which has big propeller interests, were bought because people associated them with the new invention. It may be a very long time before jet planes affect the earnings of the air- ■ craft industry. Their disturbing influence on share prices should soon wear off. The "Daily Express’s” aviation editor says the inventor. Captain Whittle, has named the jet propulsion plane “Gyrone.” Major Alexander de Seversky, the noted aeronautical designer, is of the opinion that jet-propelled aircraft would not be employed extensively for distance flying, reports the Associated Press of Great Britain. He believes the high fuel consumption will limit jet propulsion to home defence interceptors and heavy carrier-based bombers. It also might permit heavier bomb loads for existing bombers and give them added speed for avoiding attackers.