JET-PROPELLED PLANE

Otago Daily Times, Issue 25429, 10 January 1944, Page 3

JET-PROPELLED PLANE

FINANCIAL STIR CAUSED HEAVY DEALINGS IN SHARES (Rec. 8.30 p.m.) LONDON, Jan. 8. “ The news of the jet-propelled plane caused a greater stir in the City yesterday than any other invention in recent years,” says the City editor of the Daily Express. “It sent speculators hurrying to sell aircraft propeller shares on the theory that they may be adversely affected, but the shares of the companies which are believed to be concerned in the development of the jet-propulsion planes were eagerly bought. People also came in a panic to sell Rolls Royce £1 shares, which dropped 3s to £5 is. The shares of the de Havilland Company, which has big propeller interests, were bought because people have associated this company with the new invention. It may be a very long time before jet planes affect the earnings of the aircraft industry,” the article adds, “and their disturbing influence on share prices should soon wear off.” The aviation editor of the Daily Express says that Group Captain Frank Whittle has named tne jet-propulsion plane the Gyrone. The Associated Press of America says that Major Alexander Deseversky, the noted aeronautical designer, is of the opinion that jet-propelled aircraft would not be employed extensively for distance flying. He believes that the high fuel consumption will limit jet propulsion to home defence interceptors and heavy carrier - based bombers. It might also permit heavier bomb loads for existing bombers and give them added speed for avoiding attackers.

A message published on Saturday said that aircraft without propellers may become familiar in the near future. Jet-propelled fighter aircraft have successfully passed experimental tests and will soon be in production. A joint statement by the American Air Force and the R.A.F., describing this revolutionary development in air warfare, says the work was started in Britain in 1939 by Group Captain Frank Whittle.