TURNER AND NEWALL.
Turner and Newall, the asbestos combine, is one of the growing number of companies which circulate an advance copy of the Chairman's speech with the report and accounts, so that shareholders learned nearly a month ago that extensions were in progress at every one of the works at home and abroad controlled by the group. These extensions include the estab- lishment of an asbestos-cement works at the Beardmore shipyard on the Clyde in conjunction with the Nuffield Trust. But the Chairman explained that the forward policy does not imply any assumption that the tide' of world conditions will be perpetually running in the company's favour. On the con- trary, it is their policy to look beyond the immediate future and keep production capacity always ahead of demand.
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