THE CEMENT INDUSTRY

New Zealand Herald, Volume LX, Issue 18551, 8 November 1923, Page 9

THE CEMENT INDUSTRY

NEW GROUP IN CONTROL. SHOCK FOR BRITISH COMPANY. A. and N.Z. LONDON. Nov. 6. The Daily Express states that the board of directors of the Associated Portland Cement Company, which controls SO per cent, of the industry and has a capital of £13,000,000, has received a shockMr. Henry Home, a •well-known stockbroker and one of the ablest operators of the market, realised three years ago that arrangement of the capital of the British combine was such as to give any group the opportunity of obtaining control. After full survey of the cement situation and innumerable meetings of cement producers, Mr. Home began to buy shares. He did so with such skill that the board had no idea that their authority was undermined, especially as the sharps were bought without greatly inflating the price. Mr Home's new associated AngloAtlantic Corporation, under the chairmanship of General Sir Philip Nash, who reorganised the railway transport in France in the war, and is chairman of the Metrcpolitan-Vickers Electrical Company, now' controls the cement industry. The promoters believe there are great potentialities in cement, not only in England and America, but in the Dominions, especially r or the construction of houses. Moreover, the reduction in .~.e cost of motor-cars means many more cement roads. Following the coal age and the steel ago they expect a concrete and cement ago. '