PRIEST’S NEW BRAKE.

Taranaki Daily News, 1 May 1930, Page 11

PRIEST’S NEW BRAKE.

Those interested in Priest’s new brake will be pleased to know that good progress has been made. Patent rights have been obtained in Great Britain, France, Canada, •Belgium, Italy, Australia and New Zealand. Mr. T. C. List, who has left for England and is a representative of the Empire Press Association, has been given power of attorney to negotiate with manufacturers in Britain for the sale of manufacturing rights.

As is already known, Mr. W. R. Morris, one of the biggest manufacturers in England, has already shown great interest in this brake, and judging from the fact that there is room for great improvement in brakes, it is impossible to estimate what this idea will be .worth. On a royalty basis alone at only 2s Gd per brake, and were it only adopted by a few. of the manufacturers, it would easily run into millions. It is estimated that Westinghouse, the inventor of the air brake, made £4,000,000 thereby.

Priest’s Brake Company has been kept small in order that shareholders should obtain as full benefit as possible and, as this brake can be applied by Westinghouse, hydraulic, or any other principle, there is no saying what even, one share will be worth. It is quite possible that Mr. Priest may be leaving for England shortly and in order to meet necessary expenses the capital was increase;! by £5OOO at the last general ‘meeting. There are still a few hundred to be allotted. Anyone interested may apply to Box 93, New Plymouth, for fuller information. This is a chance one may not meet again in a life-time. Sold in minimum lots of ten, £1 shares need 2e 6d deposit and 2s fid ner month.