Exceptional interest attaches to the Meeting, last Monday, f Vickers
LiMited owing to the recent changes connected with the transfer of the manufacturing activities to subsidiary Companies. It Will be remembered that these operations included the transfer of the -Armament Works to Vickers- ArmstiOngs, Limited. ' Naturally, these changes and transfers have affected, the figures for the past year, but in a very lucid h Sir Herbert Lawrence gave an indication of the general ' ion of the Company, and of the outlook. Since the last nce sheet was published, there has been formed the lish Steel Corporation, which takes over the steel manu- uring activities of Vickers, Vickers-Armstrongs, and mmell Laird and Company. "This latest development," said ir Herbert Lawrence, affords an opportunity for placing section of the steel industry in a position to secure greater iency and substantial economies in production, so that it ay be able to meet successfully the ever-growing competition if foreign manufacturers." After speaking most encouragingly regard to the prospects of the new Corporation, Sir erbert also expressed himself in hopeful terms with regard the outlook for Vickeis Limited, and indeed, as I noted these columns last week, the latest Report of the Company owed a strong balance sheet with every indication of xcellent earning power.
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