The Guardian from London, Greater London, England • 7

7 THE MANCHESTER GUARDIAN SATURDAY NOVEMBER 21 1953 Association Football Company Meeting THOS. VW WARD LTD. F.A. CUP FIRST ROUND Matthews Not Playing at Old Trafford 75 Years' Progress Marked by 33 Million Record Turnover MR GEORGE WOOD ON TRENDS AND PROSPECTS Lawn Tennis SEDGMAN BEATS GONZALES American Overwhelmed From our Lawn Tennis Correspondent Wembley, November 20 In less than an hour F. Sedgman (Australia) heat R.

Gonzales (U.S:A.) by 6-1, 6-2. 6-2 in the final of the international professional indoor lawn tennis championship here with unexpected ease. It was hardly a fight The match which was so eagerly awaited was disappointing. Sedgman was at his best. He was very fast about the court, setting a tremendous pace.

He took his returns of service early and followed them into the net. He passed Gonzales continuously. The way he covered the net was remarkable and his low volleys were exceptional. On the other hand Gonzales was out of touch. He was unable to compete with Sedgman's service.

His own delivery was not as good as usual and generally his second service was of have become synonymous with outstanding workmanship, quality and service in the particular spheres in which they are engaged. Although younger in the time of their association with the Ward group, in certain cases they can claim even a longer separate existence than the Parent Company. It is my usual practice to refrain from singling out individuals for commendation for the very good reason that it would be impracticable in the short space of this review to bring to your notice by name all those directors and officials who so worthily contribute their all-out efforts, year in and year out, towards the success oi the group. I feel however that I may be allowed to relax this practice for once on such a notable occasion in the company's history and I would like to pay tribute to certain of my colleagues who carry between them the responsibilities of Chairmanship of several of the major subsidiary companies in addition their responsibilities with the Parent Company. I would' mention our: deputy Chairman, Mr.

F. R. Stagg, under whose guidance the fortunes of several of our largest subsidiaries have prospered so well, and in so doing I would like to congratulate the Ketton Portland Cement Co. of which he is Chairman in the celebration of its 25th anniversary. Long may it continue to prosper.

In addition I would like to acknowledge the leadership of our Joint decided to transfer 150,000 to the Reserve for replacement of Fixed Assets. With the ever-increasing costs of replacements we consider this a prudent course to follow. This leaves a balance on the year of 440,835, added to which we have the balance brought forward from last year of 497,727, giving a total of 938,562. Dividends already paid on Preference and Employees1 Shares, together with an Interim Dividend of 5 on the Ordinary Shares, total 71,731. Your Board recommend the payment of a Final Dividend on the Ordinary Shares of 15, less tax, making a total of 20, less tax, for the year, and with the participating rights on Employees' Shares this will require 95,141.

In addition, to mark this special year in the Company's history, it is recommended that a bonus of 2J, not subject to Income Tax, be paid out of Capital Profits. We propose a transfer to General Reserve of 300,000, bringing the total of that Reserve up to 1,700,000 which will leave the carry-forward on Profit and Loss Account of 471,690 compared with 497,727 brought in. An analysis of results shows that after meeting all charges including taxation the net profit available is only equivalent to 2J of the turnover. Your Board is conscious of the fact that the more highly competitive trading conditions which are developing will probably result in a reduction of the already small profit margins on which we have been operating, and consider that the recommendations made are most likely to promote and consolidate the interests of the Shareholders and the future business of the Company. League struggles in the First and Second Divisions.

West Bromwich Albion, whose advantage is now reduced to one point, should keep ahead with a home win over Cardiff City, but any slip may let in Wolverhampton Wanderers, who have been unbeaten for fifteen games. The Wanderers visit Charlton, are at full strength with Slater and Broadbent back and should get at least one point. England's two outside forwards for the match against Hungary next week will both be out of action. Matthews is rested by Blackpool for the visit to Manchester United who are unchanged, and Finnev. with a strained groin, cannot turn out for Preston, at home to Sheffield United, who are still without Hagan.

Sides who. are struggling at the bottom of the table have team problems to-day. Middlesbrough, at home to Manchester City, will again be without their England forward, Mannion: Sunderland visit Sheffield Wednesday without Fofd and Watson Portsmouth go to Newcastle with many changes, including Froggatt at centre forward and the introduction of a new left back in Mansell, recently signed from Cardiff. Hannah is fit and returns to inside left for Newcastle. McTavish.

a 21-year-old Scotsman, plays his first game unexpectedly for Manchester City at Middlesbrough to-day. He gets his chance at right half because of an injury to Clarke. Revie moves from wing half to fill the vacancy at inside left. Leicester City may regain the lead in the Second Division, for they should win at home against Lincoln City, whereas Doncaster Rovers have a hard task in visiting Nottingham Forest, who have dropped only one point in ten home games. For the fourth consecutive week Blackburn Rovers will be unchanged.

The main interest in to-day's Association football matches centres upon the F.A. Cup competition, when 48 Third Division clubs and 32 amateur and minor professional teams contest the first round proper. The' chances that there will be several clubs remaining from outside the Fooi-oall League when the third round is reached are increased by the draw for to-day's ties. Eighteen of them are to be played on non-League grounds, including four belonging to the live remaining amateur clubs. Six of these matches are between two such clubs, so that at least six are bound to appear in the second-round draw next Tuesday.

Three of the four amateur clubs at home proved their mettle as cup fighters last season and mav be troublesome to professional opposition. Walthamstow Avenue, who reached the fourth round, may progress again at the expense of Gillingham. Finchley reached the third round last season, but thev will do well to hold such strong visitors as Southend, a forecast equally applicable to Harwich and Parkeston, who receive Headington United, the Southern League champions. Hitchin Town, the fourth amateur side at home, receive Peterborough United, one of the strongest sides outside the Football League. The remaining amateurs.

Ferrv-hill Athletic, go to Workington with, apparently, little prospect of success. Two cup-ties are repeats of similar games last season. Newport (Isle of Wight) re-visit Swindon, where thev lost 5-0, and Shrewsbury visit Queen's Park Rangers, whom thev met three times last season before winning 4-1. Meanwhile, the big clubs continue their LEAGUE AND (Kick-off at 2 15 p.m. except where stated) FIRST DIVISION.

Bolton Wanderers v. Chelsea. Burnley Aston ViUa. Charlton Athletic t. Wolverhampton Wanderers.

Liverpool v. Arsenal (2 30). Manchester United v. Blackpool (2 20). Middlesbrough v.

Manchester City. Newcastle United v. Portsmouth (2 30). Preston North End v. Sheffield United (2 30).

Sheffield Wednesday v. Sunderland (2 30). Tottenham Hotspur v. Huddersncld Town (2 30). West Bromwicb Albion -Cardiff City (2 30).

SECOND DIVISION. Birmingham City v. Bury. Fulham v. Hull City (2 30).

Leeds United v. Oldham Athletic. Leicester City Lincoln City (2 30). Luton Town v. Blackburn Rovers 2 30).

Nottingham Forest v. Doncaster Rovers (2 30). Plymouth Anvle t. Derby County (2 30). Rotherham United v.

Bristol Rosen (2 30). Stoke City v. Notts County. Swansea Town Brentford (2 30). West Ham United v.

Everton (2 30). SCOTTISH LEAGUE (DIVISION A). Celtic v. Airdriconians. Dundee v.

Stirling Albion. Falkirk v. Aberdeen. Hamilton Academicals v. Hearts (2 30).

Hibernian v. East Fife. ParUck Thistle v. St Mirren. Queen of the South v.

Clyde. Raitb Rovers v. Rangers. SCOTTISH LEAGUE (DIVISION B). Albion Rovers v.

Ayr United (2 30). Alloa Athletic v. Dundee United (2 30). Arbroath v. Dumbarton (2 15).

Dunfermline Athletic v. Queen's Park (2 30). Kilmarnock v. Cowdenbeath. Morton Forfar Athletic (2 30).

St Johnstone Stenhousemuir 2 30). Third Lanark v. Motherwell (2 30). LANCASHIRE COMBINATION. Bolton Wanderers t.

Rnchdate. Fleetwood Accrinston. Lancaster City v. Nelson. Marine v.

Chorley. Netherfield v. Horwich R.M.I. Oldham A v. Barrow, frescot (jaoie v.

Darwen v. Rosscndale United. Southport v. Ashton United. South Liverpool v.

New Brighton. CHESHIRE COUNTY LEAGUE. Bangor City v. Stafford Rangers. Buxton v.

Mouley. Chester v. Crewe Alexandra. Hvde United v. Tranmere Rovers.

Macciesneid v. Northwich Victoria. Etlesmere Port Town v. Altrincham. Runcorn v.

Congleton Town. Stalybridge Celtic v. Port Vale. Wiruford v. Wrexham LANCASHIRE AND CHESHIRE AMATEUR LEAGUE.

First Division: Old Stopfordians r. East Chorlton. Rusholme v. Old Ashtonians. M.E.C.

v. Old Stretfordians. Roy ton Amateurs v. Monton Amateurs. West Didsbury v.

Old Urmstonlans. Old Stoconians v. Bradford Parish. Old Standians v. Cheadie Heath Nomads.

Second Division: Cheadie Hulme v. Styal. Old Bedians v. Oldham H.S.O.B.. Salford Nalgo v.

Aldermere. Old Xavcrians v. Heywood G.S.O.B.. Old Flixtonlans v. Cepea Amateurs.

Wigan M. and T. College v. Chapelmoor. More Society v.

South Man-Cheater. Bramhall v. Stockport Georgians. Cross-Country BRITAIN'S BIG TASK Britain's team face a bie task in the international cross-country race at Brussels to-morrow if it is to repeat last year's performance, when three British runners finished in the first five. Britain's four are G.

M. Gray (Small Heath Harriers). R. Hatton (Birchfleld Harriers). Hesketh (Manchester C- and A.C.).

and D. Foster (Rotherham Harriers). Against them will be 36 runners, the best of five other nations. now available with UP for 17 years, decided for health reasons to retire from the Board at June 30th, 1953. He is, however, remaining with us in an advisory capacity, and we all hope he will benefit from the lessening of his duties and completely recover in health.

In each succeeding year it is my pleasure to tender sincere thanks to all employees in our group of companies for their good work, and I am especially pleased in this anniversary year to congratulate them on the way they have again played their part. In the Parent Company alone we have 20 employees including Directors who have completed 50 years or more' service and 325 employees including Directors with at least 25 years' service. There is an old Chinese proverb which I feel is aoDosite. to the effect that "if you are planning! for one year, rjlant grain, if you are planning for 10 years, plant trees, but if. you are planning for 100 years, plant men." The strength of the present-day position of your group has been largely attained by the policy of attracting and retaining the right type of men, and the maintenance and consolidation of this position in the future years depends upon the continuance of such a policy.

Trading Aspects. As I stated above the Parent Company's turnover has again shown a satisfactory increase and our principal trading departments with slight exceptions have had a good year although they have felt increasingly the weight of competition and have experienced some contraction in profits. Those sections of the business concerned with the collection and supply of Scrap Iron and Steel and related raw materials have again handled large tonnages. This follows the normal anticipated pattern, for over the past 75 years these important sections of the business have been carefully developed and expanded so that to-day they are unrivalled in the vijal services they perform in supplying one of the nation's most important basic industries. For those lacking practical acquaintance with an organisation performing such a service I would mention that the recovery and supply of scrap metals on the vast scale of your company's operations is a highly specialised business calling for wide expert knowledge both of materials and markets and of consumers' specialised needs.

It requires a network of branch works and ship-breaking yards conveniently sited and adequately equipped with efficient machinery for the stocking, handling, processing and manipulation oi me various metals. As the largest suppliers of Scrap Iron and Steel to the consuming industries we are proud of the fact that during the past year we have again played so vital a part in the recovery and supply of substantial quantities. I mentioned a year ago that quantities available were at that time considerably below demands but during the present year supplies have improved Pig iron deliveries have also improved so that the steelworks are in the happier position of having sufficient raw materials to meet their immediate requirements and even to put a little into stock. Normal home supplies of scrap need to oe implemented from outside sources and shopbreaking has contributed in some measure to this need. As anticipated the output of new ships from the shipbuilding yards has released a number oi old and oosoiete ships for demolition, and consequently there has been a fairly regular flow of vessels into our shopbreaking yards with the result that this section has had a satisfactory year.

The strateeic value of scrap is such. however, that the steelworks must build up still larger reserves. We cannot therefore relax our drive but must vigorously pursue our efforts for the full recovery of this important material. I have given precedence in these remarks to the operations of those sections of 'he business concerned with the recovery and supply of scrap metals because steel is so vital to the prosperity of this country and in recognition of the fact that it was one of the principal activities on which the business was originally founded. This does not indi cate, however, that the other sections of the business are considered of secondary importance.

On the contrary, they supply a large proportion of the turnover and we look to them to contribute on a considerable scale to the common pool of profit. These sections supply a wide range of goods and services to industry and include sizeable manufacturing and engineering interests. Although the manufacturing interests of the group are mainly carried on by subsidiary com panies there is an appreciable element of manufacturing directly performed by the Parent Company, such as the construction of railway sidings, the fabrication and erection of structural steelwork, the production of bolts and nuts and light forgings, machine tools and other similar equipment. In our modern and well-equipped engineering shops we also undertake the reconditioning and repair of all types of heavy and light machinery and plant for industrial and contracting purposes. It is paradoxical that the irrmrovp- ment in steel deliveries should have introduced somewhat more diflfinnlt trading conditions into certain of our engineering sections but the better steel position has generally enabled the DacK-iog oi orders in the engineering trade to be reduced and delivery dates are now better than at any time since the war.

Furthermore, some of the large capital development schemes pf the post-war years are nearing completion so that general trade is reverting more to normality and business is becoming highly competitive. This evidences the return to a more stable economy and should be regarded as beneficial to the general conduct of industry. Competition creates lower margins but ultimately expands trade and efficiency. The process of transition, however, creates special problems for management and I cannot overemphasise the initiative and tenacity shown by all Departmental Controllers in dealing with the changing situation. We can only keep in the forefront of the business in which we are engaged through the medium of an efficient service backed by the full resources of our large-scale organisation.

I commented last year on the unsatisfactory position of the contract as it then stood with the Saudi Arabian Government for the building of a road from Jedda to Medina and promised that everything would be done to finalise our obligations at the possible moment. I am. pleased to inform you that negotiations have enabled us to reach a settlement with the Saudi Arabian Government. Our obligations, with the exception of matters of a minor nature, are therefore at an end, the plant and equipment has been disposed of and the further loss incurred since the last financial year has been written off in the accounts under review. Subsidiary Companies.

The combined trading results of our subsidiaries again show an increase of some 125,000 compared with the previous year. A magnificent achievement. These companies carry names which The Fiftieth Ordinary General Meeting of Tbos. W. Ward, was held on.

November 20 at Sheffield- Mr George Wood, C.B.E. (chairman of the company) presided and in the course of his report said "This great and unforgettable coronation year of 1953 also marks two notable events in the history of the business and your company, namely, the seventy-fifth anniversary of the founding of the business by Thomas William Ward in 1878. and the holding of the Fiftieth Annual General Meeting of the Company I feel it indeed to be a year of three-fold celebration. Space does not permit, neither does the occasion call for personal and nostalgic recollections of the intervening years but I together with the President, the Deputy Chairman, and other colleagues on the Board have lived intimately with the affairs of your Company throughout the past fifty years we have seen it through times of prosperity and adversity, have experienced great worries and great happiness and at times results from strenuous endeavours and hard work have appeared to follow very slowly indeed You will therefore appreciate how proud and honoured I feel to be the Chairman of your Company in this anniversary celebration year and to have the pleasant duty of bringing before vou such a record of achievement. In so doing I would like to pay my tribute to our founder and first Chair man.

Thomas William Ward, who by his couraee and sagacity laid the foundations pi the Ward Group of Companies in those far off days in 1878 when Disraeli was Prime Minister, income tax was threepence in the pound, and the national annual output of steel was approximately one million tons compared with the output of the present day of eighteen million tons per annum. I would also like to acknowledge the work of Mr Joseph Ward who succeeded his brother and was Chairman until 141, and particularly my immediate predecessor Mr Ashley Ward under whose wise and skilful guidance as Chairman from 1941 to 1950 the group expanded and consolidated its position. Your Board feels that such a year of three-fold celebration should be marked by a special bonus to the members of the Company together with some suitable gift to the employees, and I will refer more fully to our proposals in this respect at a later stage in my review. Group Profits. Last year I drew attention to the similarity of the results with those shown for 1951, and 1 am again pleased to comment on the relative stability of the results for 1953 compared with the two preceding years, particularly so as during the year under review there has been a noticeable swing in certain directions towards more normal and competitive market conditions, with a consequent reduction in profit margins a factor which 1 forecast in my review last year.

The profits before taxation after crediting exceptional income of 148,771 are 1.974,210, comparing with 1.882,035 in 1952 and 1,886,950 in 1951. The charge for United Kingdom and Foreign Taxation requires 1.027,342 leaving profits after taxation of 946,868 and after adjusting for the amounts already dealt with by Subsi diaries in their own accounts, we are left with a net profit available for allocation and appropriation in the accounts of the Parent Company of 590,835, compared with 574,955, an increase of 15,880. Lwill deal with the various factors that have influenced the year's results in my analysis of the trading aspects and experiences during the year. It is no doubt a trite saying that records are made to be broken but it is very gratifying to report that despite more competitive trading conditions we have achieved the new record turnover figure of 33 millions which exceeds by 4 millions last year's record of 29 millions. Of this totai turnover the parent company's figure of 22 millions shows an increase of 3 millions and the combined turnover of subsidiary companies of Wh millions shows an increase of 1 million compared with the previous year.

The turnover for the current three months subsequent to the date of these accounts is rather less than for the corresponding period last year. Employees. Mr C. F. Bishop, who has been with the Company for 57 years, of which he has been a member of the Board Give her a really Useful Present "DUUALITE Fish Fryer makes delicious Chips Fish safely.

Double lid prevents splashes. Dust-proof. Polished Aluminium. Plastic Handle. Heavily tinned Basket has Clip to allow Chips to drain.

Good Housekeeping Approved. Accepted by the Council of Industrial Design for inclusion in Design Review 21- in Presentation Box at GAM AGES SELFRIDGES WICKHAMS. and other Good Hardwaie Depts Factors Jacem Coxson Crowders. Makers ZAN Sandbach. Cheshire MAKE THIS A HEAL XMAS HOLIDAY Christmas at the Central means wonderful time with good company, fun galore and the very best of food.

107 bedrooms. All modern amenities. Book now. STAY AT THE Central Motel Exchequer Street, Dublin 'Phone No. 78341 (4 lines) 'Grams: "Central." SHELL MOULDED IRON CASTINGS Iron Castings of Perfect Finish and Accurate to a few thousandths part of an inch.

In many cases Machining can be completely eliminated and in others reduced by 50 or more. I CAST FOUNDRIES LTD, UNDERBANK MILLS. WHIT WORTH, LANCS. Ttltpham WHITWORTH 52216-7. ippfaft eMfHatQITf COMCRBTE GARAGES rr length, which allowed Sedgman to get to the net more quickly.

His drives missed the lines and frequently he hit the tape. It was indeed a disastrous day for him. Sedgman save nothing away and was extremely fit It was very difficult to assess how good Sedgman was because Gonzales A. puw up no resistance against mm. Before a capacity crowd Sedgman produced form which had not been seen played by him in this country in his amateur days, even when he won Wimbledon in 1952.

Those who saw him play in Australia and in the Davis Cup final matches snoke of this brilliance. The match began with Sedgman serving well and Gonzales unable to time the returns. In the second game Sedgman made three superb returns of service, the second, a xorenand cross-court orive, carried so much pace it was like a streak of lightning Thus he gained his first service weak. This gave Sedgman added confidence, and he won the next two games for 4-0, serving remarkably well, and with his exceptional reaction, making winners off Gonzales's service. Gonzales held two points to break Sedgman's service in the next game through better returns, but Iferrowly missed the line.

Once Sedgman won the set he went from strength to strength. In the second set Sedgman got the break in the third game aided by an unlikely double fault from Gonzales. Sedcrman continued volleying splendidly, slipping off Gonzales's returns. As the match progressed Gonzales became no better. Again in the third set Sedgman broke service and led 3-2 after Gonzales had saved three game points against him.

The match was soon over after this with Sedgman the complete master. R. Riggs (U.S.A.) and J. de Mos (Holland) won the third place in the doubles by beating R. Probst and K.

Pohmann 'Germany bv 6-0. 6-3. The American-Dutch combination was too strong for the German pair who were unable to compete with the pace set by their opponents. Cricket INDIA'S LABORIOUS INNINGS New Delhi. November 20.

After a slow day's cricket the Commonwealth eleven are 345 behind India with all their wickets in hand. INDIA First Inoiast Rot Worrell A pie and Berry 30 Manirckar Worrell K6 V. S. Harare Worrell IS R. Lcarisar and Worrell G.

S. Racacnand Berry C. D. Gopiaath run out 23 S. Tabauoc low Rrrrv 15 A'jun Navudu not out 10 GbuUm Ahmed St Bar- rveit Berry Gupie Loxton Berry 16 Extras Tom Worrell 20-3-72-0.

587 40-16-66-4 Ramadhin BowUac Be-1 47 4-16-89-3 Loader 16-3--0 Loxtoa 4J-I3-I0I-O. COMMONWEALTH FTrt Uralaga Simpaon not out Marshall not out Extras Total tfor 0) 41 NATAL NEW ZEAL ANDERS. At Durban. Natal (Bnt lauakaaa) 272 foe 4 (McLean 120). Reuter.

Rugby Union TO-DAY'S FIXTURES NEW ZKALANDERS f. New Zeatanders (2 45 x. COUNTY CHAMPIONSHIP MATCHES. Cheshire v. Cumberland and WmnoiUnJ.

at Birkenhead Park (2 Leicstershlre North MidlanJs at Leicester (2 45) Northumberland v. Lancashire, at Ijusforib (2 Yorkshire v. Durham, at Otlev (2 -M LANCASHIRE AND CHESHIRE. Ashton-un-Mersey v. De La Salle OB.

Athton-undcr-Lnc v. Old Rocbdauana. Blackburn v. ttigan Bowdon v. Burv.

Broughloa Park v. Preston Uravttiopperm. Colne anJ Nelson v. OU Crossleyans. Davenport v.

Chester. Dukioflesd f. De La Salle T.C.. Eccles Old Salfordians. FyUlc A v.

Thornton Clotlov Hcaton Moor Ormtklrk. Huddersncld v. St Helen. Kersal v. f-orness.

Manchester v. Manchester University. Manchester Y.M.CA. Burnage. Old Birkonlan Old Fdwardianv Old Caldciana West Park.

Oldhim v. Stoke. Old Hulmeians v. Old Aldwinians. Old Parkonians v.

Orrell Old Saltans v. Congleton. Old Widnesian v. Leigh IC Frestwica v. Fleetwood.

Rochdale v. Sandal. Sale v. LiverpooL Sedsley Park LevUnd Motors. Toe (Manchester v.

Oldham Borough. Tvldesley Warrington. Vale of Lune Liverpool Unlierstty. Wallasey v. Old Newtonians Wilmslow Southporl.

Wtnnington Park v. Hen lake. YORKSHIRE I "UP IFotinb Round). ttramiey OB Doncaster. 'English Electric v.

Leeds Salem. Halifax Vandals v. West Leeds O.B.. Leeds NaUo v. Leeds Police.

Old Hymcrians v. Hull University College. Pocklington Bradford Salem Scarborough Castkford. Selbv Leeds Chiron. CUMBERLAND SHIELD (Sesnl-naal Replay).

Workington Ellenfoot. YORKSHIRE AND NORTH-EAST. Ashbourne v. Old Mannerism. Atbinmon Gatehcad Fell.

Barnle v. Old Wathonlans. Billingham v. Darlington G.S.O.B.. Binxley Keighliaos.

Biaydon v. Percy Park. Braoford Fylde. Bur ley v. Leeds T.C..

Chesterfield Nuneaton A. Occkhcaton OKI fomtretiaos. college oi commerce v. Ryxon. Colne and Nelson v.

Old Cronleyani. Durham City v. Westoe Goolc B. v. Roundhay.

Grimsby Skcxncaa. Halifax Birkenhead Park. Hartlepool Rovers v. Gosforth. Houghton ConsetL Hull and E.R.

Heading ley. Heath B. Old Risbworlbians. Huddersncld Si Helens. Ilkley v.

Otley. Leeds Y.M.CA. v. Koundbay A. Lincoln v.

Worksop. Medicals RockcliB Middlesbrough v. Hartlepool O.B.. Morky v. Leeds University North Durham v.

Darlington. Northern Durham Colleges. Old Draconian v. Moortown. OM Leodicnslant Harrogate.

Old Roiindhegians v. Skipton Old rhotnensians v. Scunthorpe. Re dear Stockton Rucbdale Sandal. Seghill v.

R.A.F.. Acklington Sheffield tiacis v. Burton. University Metro fcX. iun.rUml Kin Culler.

Wakehrld Sheffleld Vcl Har.iepool v. Hartlepool Athletic. Winlaton Vulcan Darlington A. LONDON AND HOME COUNTIES. Aldershoi Services v.

London Hmpital. Citil Service v. Middlesex Hospital. Guy's Hoscxtal Kossbn Park. Harlequins Oxford University.

London Irish v. University College. Dublin. Londoa University v. Strexiham.

London Welsh Neath. Old Alio man v. St Bartholomew's Hospital. Old Cranlcigbana v. Old Haberdashers.

Old MillhiUians v. Metropolitan Police. Old Paulines v. CCS. Old Old Ruiiishians v.

Bcckenlum. Oxford v. Guild ford. Richmond London Scottish. St Man's Hospital v.

VS. rorumouin. wooceora v. tsacr. CUMBERLAND AND WESTMORLAND.

Windermere v. Ambleside. Carlisle v. Kendal. Moresby v.

t'ookcrmouua Ellenfoot v. Lgxemonl. Mtllom G.S. v. Gcccnsartb.

Hokac Wanderers v. Vale of Lune A. Keswick v. Anthoto it.N.Ai., SiUoth v. Keswick A.

Stony-hunt v. St Bees School. Aaoatria v. Whitehaven. Vickcrs S.C.

t. Workinjion. Kirkby Lonsdale v. Vickera S.C. A.

OTHER DISTRICTS. Aberavon v. Llaneily. Bath Cheltenham. Blaenavon v.

AberUUery. Bridgend v. Mactteg. Bridgwater ana Albion v. wcstou-supcr-Marc Bristol v.

Old Merchant Taylors. Burton v. Birmingham. OanhArne v. St Ives.

Cambridge University v. Newnort. Clootarf v. New Brighton. Edinburgh Academicals v.

Stewart's F.P.. Exeter v. Old Blues. Gala v. Melville F.P..

Glamorgan Wanderers r. Clifton. Glasgow University v. Glasgow H.S.F.P.. Gloucester v.

Blackheath. Hawick v. Euinouran iiiy rvuvv. Academicals. Kcnitwortb v.

Westminster Bank. Ll'dncy v. Nottineham. Metrcxe v. Edinburgh Wanderers.

Moselcy v. Waterloo. Musselburgh v. Kelso. Newbridge Penarth.

Newbury v. Trojans. Northampton v. Bedford. Nuneaton v.

Leicester. Oxrord v. Uiucnoro. Paignton v. stiumoutn.

Prarance and Newhm v. Penrvn. Pontypool v. Devonport Services. Pontypridd v.

Mountain Ash. Redruth v. Plymouth Albion. Risca v. cross Keys.

Koyai H.i v. Kelvinside Academicals. Rugby v. Saracens. St.

Luke's v. Wellington. Salisbury v. Berkshire Wanderers. Selkirk v.

Jcdforcst. Somerset Police v. Yeovil. Stroud v. Bank of Fngtand.

Swansea v. Coventry. Tcignmouth v. Newton Abbot. Torquay Athletic v.

Barnstaple. Wlvells- combc y. Taunton. Wauomani v. Edinburgh University MANCHESTER REFEREES The Manchester and District Refer' Society has made the following appoint ments ior to-aay games Sale v.

Liverpool. F. Beattle; v. Manchester University. G.

G. Rose: Broughton Park v. Preston. H. J.

Pillini: Kersal v. Furncss. J. B. Llewellyn: Hcaton Moor v.

Ormxklrk. J. McCann: Oldham v. Stoke. H.

L. Eagles: Wilmslow v. Soutbport. S. dynes; Blackburn r.

Wigan. W. Miles. Rochdale Sandal. A Barker: Bowdon Bury.

V. Foibcrgill; Tyldeslcy v. Warringtoa. J. Baldwin: Winnineton v.

Hoylakc. W. Land: Eccles v. Old Salfordians. R.

Myers: Y.M.CA. Burnage. F. Hardman: Davenport v. Chester.

S. D. Murphy: Ashion-on-Merscy t. De la Salle O.B.. J.

Kemsey-Bourne: Macclesfield College of Technology. B. J. Hiokins; Vale or Lune v. Liverpool University W.

A. Hall: Ashtonuader-Lync v. Old Rocbdaliatu. A. Y.

Barlow: Toe H. v. Oldham Borough. J. A.

Clarke: Sedsley Park v. Lcyland. -H. Donoghuc: Prestwlch v. Fleetwood.

C. Holt: Old Hulmeians v. Old Aldwinians H. R. Cruse: Anchor v.

Calder Vale. G. Barton: Old Salians v. Congleton. Webb; ChurchiUs v.

Cheadie Hulmc. J. Rivetf Duklnffetd De la Salle T.C.. Garnett: Cheadie Hulme Sch. v.

King's A Stewart: Stonvhurst Colleee v. St Bede's Dwer: Manchester University A v. Manchester A. J. Ryner: Kersal A urness A.

R. Gerrard: Metrovick A v. Sheffleld University A P. E. Goode: Preston A Broughton Park A.

S. C. Collins. RUGBY LEAGUE FIXTURES NORTHERN RUGBY LEAGUF (2 JOVBelle Vue Ranger Hon Klnnton Rover. Dewibury Hailfex.

Doncatter v. Humkt. Featheratone Rorera Rochdale Hornet. Hoddmneld v. Bradford Northern.

Hull Swlnton. keighlev Wakefield Trinity. Leeds Castle- OWham Bramlev. Salford Warrington. Widnea v.

Leigh Wlean Barrow. York v. Bailey F. Darli. the holder, who had already gained a wtn-niof margin emr H.

Stokes in their quarter Anal match maich-olav chamolotf ship at Middlesbrough shared the six banes of yesterday! early session and at the Interval led 41-13 Scores (Darli Brat): 563. 20-. M-tt. WOM-M? 227 Managing Directors, Mr. Harold W.

Seeker and Mr. Joseph Walton who so ably fulfil the role of Chairman to seyeral other of our important subsidiaries. In making such acknowledgments I would like it be felt that my remarks include all those Directors of the Parent Company who are also engaged on the boards of subsidiary companies, together with the resident directors and officials of the companies concerned, and I would like to thank them for the loyalty and whole hearted support which they give to their respective Chairmen. Overseas Trade. We have several subsidiary companies registered in other countries: France, Sweden, Belgium, India, and Australia, whilst the Parent Company also has an important overseas trade department There are many difficulties in export business, not least the restrictions on import licences in some of the most important markets, but the main diffi culty is still a financial one, the inability of many countries to find the necessary currency to pay for the goods they require.

Owing to its financial strength, your company is in a stronger position than some others to meet this difficulty, but at the same time we find it necessary to act with very great care. Export trade is vital to this country, and we are exploring all avenues to promote and foster such trade through our group, but great obstacles will remain until a more balanced state of international finance is reached. I am pleased to record, however, that the French Company had a turnover of approximately 1 million whieh, despite the fact that profit margins are relatively small, can be considered very satisfactory. I am also very satisfied with the manner in which we are gradually but firmly consolidating our position in the Scandinavian Countries through the efficient organisation of the Swedish Company. Our newly acquired Australian Company has suffered materially from the effect of the import euiu uieun resiricuons, out we consmer this recession to be only of a relatively temporary nature.

As evidence of our confidence in the potentialities of the Australian Company we acquired in June last an old-established business of general engineers, specialising in boilers, tanks, steam-raising equipment. This acquisition has been merged in our existing Australian Company. Pension Scheme. The first five years following the inception of the Pension Scheme ended on October 15th, 1953vand the actuaries will shortly be making their quinquennial revaluation so I think it is opportune to give you a short review of the scheme's scope and progress. It covers the whole of the permanent male staff employees over 21 years of age who contribute on the basis of 5 of salary with a like contribution from the company.

The pensionable age is 65, when the employee qualifies for a pension for life on retirement with a minimum period of 5 years or the right to opt for a lesser pension and Widow's Annuity. The amount of pension is calculated on the number of years' pensionable service with a maximum pension of one-half the average salary during the 5 years immediately preceding retirement. These benefits are flanked by a non-contributory Group Life Insurance Scheme under which dependants of the members of the Pension Scheme receive a lump sum payment if the member dies before pensionable age. The scheme is working remarkably well, the funds have been well invested and the accumulated fund at the present time is 600.000. We know that all employees are very appreciative of the benefits which it provides and we regard it with justifiable pride.

Review op the Balance Sheet Position. From the Consolidated Balance Sheet it will be seen that the total of Share Capital and Reserves' relating to your company's interests is 6,607,895. showing an increase of 622,006 compared with the position a year -ago. The main movements reflected by this cover increases in tne excess oi current Assets over Liabilities of 694,915 and 69,457 in Fixed Assets against which Future Income Tax shows an increase of 64,959, and Interests of Minority Shareholders 77.772. The liquid resources of the group are adequate and show the satisfactory position of Current Liabilities being slightly more than doubly covered by Current Assets.

The Balance Sheet of the Parent Company shows a similar satisfactory position and although Bank Balances show a reduction mainly because of the considerable increase in Debtors, the Cash Balances and Short Term Loans totalling 462,604 are ample for requirements. Although some small relief from Income Tax was given in the last budget and the unfortunate Excess Profits Levy will terminate on December 31st next, the burden of taxation on industry is still far too heavy. By reason of the good standards of profit we had established in 1947 and 1948 we have fortunately escaped the inroads of the Excess Profits Levy, but you will see from the Group Accounts that no less a sum than 1,023,933 has had to be provided out of profits to meet the demands of Income Tax and Profits Tax. In particular I feel that it would be a step in the right direction if wear and tear rates were increased and brought into line with general industrial experience of depreciation. More encouragement should be given to manufacturers to modernise both buildings and equipment and, if we are to meet the highly competitive conditions of world trade, we shall have to have a more enlightened fiscal system.

Appropriation of Profits. Before dealing with the Profit available as shown earlier in this report, I would like to comment on the fact that we have set aside the amount of 25.000 for distribution amongst employees to mark the Anniversary Celebrations. This is in addition to the normal bonus which employees receive based on the results of the year's working, butvjve know that this step will fully accord with the wishes of the shareholders. From the Profit available for allocation and appropriation of 590,835 we have SINGLE GARAGES FROM 46 OR Range suitable for all cars Easily erected precast Up and over or hinged aluminium alloy doors required, permanent yet portable Completely CUP GAMES (Kick-off at 2 15 p.m. except where stated.) F.A.

CUP (FIRST ROUND). Aldershot v. Wellington Town. Barnsley v. York City.

Bath City v. Walsall. Blyth Spartans v. Accringtoc Stanley, Brighton and Hove Albion v. Coventry City.

Cambridge United v. Newport County. Great Yarmouth v. Crystal Palace. Colchester United v.

Millwall. Crewe Alexandra v. Bradford City. Darlington v. Port Vale.

Exeter City v. Hereford United. Finchley v. Southend United. Gainsborough Trinity v.

Chesterfield. Gateshead v. Tranmere Rovers. Grimsby Town v. Rochdale.

Halifax Town v. Rhyl. HartlepooU United v. Mansfield Town. Harwich and Parkeston v.

Headington United. Hastings United v. Guildford City. Hitchin Town v. Peterborough United.

Horden Colliery Welfare v. Wrexham. Ipswich Town v. Reading. Leyton Orient v.

Kettering Town. Northampton Town v. Llaneily. Nuneaton Borough v. Watford.

Queen's Park Rangers v. Shrewsbury Town. Scunthorpe United v. Boston United. Selby Town v.

Bradford. Southampton v. Bournemouth and Boscombe. Southport t. Carlisle United.

Spennymoor United v. Barrow. Stockport County v. Chester. Swindon Town Newport (I.O.W.).

Torauay United v. Bristol City. Walthamstow Avenue v. Gillinaham. Weymouth Bedford Town.

Wigan Athletic v. Scarborough. Wlttnn Albion v. Nelson. Workington v.

Ferrybill Athletic Yeovil Town v. Norwich City. F.A. AMATEUR CUP: Qualifying Competh'ion (Foartb Round Replays) (2 15). Billingham Synthocia v.

Tow Law Town. Crlttall Athletic v. Whitton United. Ertth and Belvedere v. Whitehawk and Manor Farm O.Ov.

Sutton United v. Storey Athletic. LANCASHIRE AMATEUR LEAGUE. Bolton Wyres-dale v. Manchester Univer'itv.

Blackburn Technical College v. Manchester Y.M.CA.. Whalley Range v. Old Mancunians. Rochdale St Clements v.

Bury Amateurs. Bury G.S.O.B. v. Middleton Amateurs. Old Boltonvan v.

Oldham Hulmeians. Fulwood v. Chorlton-cum-Hardy. Ainsdale Hesketh Park v. Bolton County G.S.O.B..

Blackpool Rangers v. Burnley Belvedere. Burnley G.S.O.B. v. Broughton Amateurs.

Old Chorleians v. Old Farnworthians. Preston G.S.O.B. v. Old Blackburnians.

Southport Leyland Road v. Old Sladeianv St Anne's Athletic v. Burnley Municipal College. North Mancehster G.S.O.B. v.

Chadderton G.S.O.B.. Hindley G.S.O.B. v. Old Moitonians. Ashton G.S.O.B.

v. Old Glossopians. Lymm G.S.O.B. v. Old Chorltonians.

Manchester Health Department v. Burnage G.S.O.B.. Old Traflordians v. Wigan G.S.O.B.. Radcliffe Amateurs v.

Metro-Vick College. LIVERPOOL I ZINGARI LEAGUE. Aigburth P.H. v. Old Xavcrians Arsoo O.B.

v. Maghull, Stoncycroft v. Technical Students. Liverpool University v. Collegiftie O.B.

Waterloo G.S.O B. v. Thorndale. Athletics OXFORD RELAY TRIALS Further trials for the Oxford relay team against Cambridge at Cambridge next Thursday were held on the Iffley Road track yesterdays. The results were 120 Yards High Hurdles.

1. E. E. Hlgham (Wadhara): 2 Shaw (Exeter): 3. G.

E. Villiers (Brasenose). Time: 15sec. 120 Yards. First Heat: 1.

H. Prosser (Exeter); 2. A. G. Law (Exeter): 3.

J. Sainsbury (Worcester). Timer 23.7sec. Second Heat: I. D.

P. Welters (Keble). 2. J. Stubbs (Exeter): 3.

R. A. Pinnir.gton (Lincoln). Time: 24.2sec. Final: I.

Stubbs; 2 Welters; 3. Sainsbury. Time: 23.5sec 220 Yards Low Hurdles. 1 C. E.

E. Hlgham (Wadham): 2 G. E. Villiers (Brastnose): 3. M.

C. Jenkins (Keble) Time: 25 5sec. AND OVER DOORS MULTIPLE GARAGES FROM PER GARAGE An unequalled investment Any number supplied in one block. Up and over or hinged aluminium alloy doors. Easily erected and fireproof.

Internal dimensions 15' 8" or 18' 7' clear height of 6' 3 or 9" 93 PER WEEK concrete units No foundation fireproof and Tel. Coventry 892456 the evening. TROM LESS FUEL ATTENTION I he fcUCO is designed tot the large boiler. Works in exactly the same way. Heated sir Is mixed with waste gases and results in perfect combustion and full heal value from even the cheapest fuel.

Up to 25 cut In luel bills for larger houses, schools, factories, hotels cinemas, churches, etc- Price C5.5.0 to 19.10.0. flease give details of boiler when writing. ECONOMY 15 CAT FOOD 9d. per tin wr ft wm Is NgJ Future Prospects. I cannot forecast that Group Profits will be maintained at the high levels ruling over the past three years, indeed the indications from our normal everyday business are that there will be some failing away from such exceptional levels, but one can never forecast the opportunities for special transactions which may arise and for which your company is so well organised and equipped to turn to advantage.

In general terms a reduction in profits is referred to as a recession, but I prefer to regard the phase on which we are now entering as a period of adjustment. In my concluding remarks last year I urged the need for a restoration of stability of value to our currency and I consider that the steps taken so' far by the Government are gradually promoting that stability and confidence. The process of adjustment to more normal and healthier trading conditions may result in reduced profit margins but I am confident that they will be representative of greater value. I can say that we face the future with confidence but there is an urgent and increasing need for higher productivity if we are to meet the keen competition of other nations. I support the warning given by other industrial leaders if we are to improve or even maintain our standard of living we must make every effort for greater production.

Finally, may I express a personal hope for the future. The next landmark in the history of this business will be the celebration of its centenary in 25 years time. May it then be in an even stronger position than it is today with its personal ties and traditions unbroken and pro viding then the means of livelihood to many thousands of people under peaceful and prosperous conditions. The report and accounts were adopted and the dividends recommended declared. The retiring directors were e-elected and auditors reappointed.

Jozsef Bozsik, who will probably play centre half for Hungary against England in Wednesday's match. He has played for Hungary in 43 matches and is also a member of the Hungarian Parliament DRIVING BAN ON J.P. REMOVED Mrs Philippa Mabel Lamb, a magis trate, of Silverstone House, Towcester, (Northamptonshire), appealed at Oxford City Quarter Sessions last night against conviction and sentence by Oxford magistrates for driving at a speed dangerous to the public. Mrs Lamb was fined 5. disqualified from driving for six months, and had her licence endorsed on September 1.

Mr F. H. Lawton, for Mrs Lamb, said she suffered from a disability and had to have a car to get about. The Recorder, Mr W. J.

K. Diplock, Q.C., said the conviction must stand, but in view of Mrs Lamb's special circumstances of a personal nature the suspension might properly be removed. Instead of being fined 5 and suspended for six months, she would be fined 50 and would have to pay costs. Snooker J. DAVIS LEADS BARRIE J.

Davis, who is conceding 21 points per frame, increased his lead over J. Barrie in their match in the News of the World 1.500 snooker tournament at Leicester Square Hall. London At the interval he led 11-7. Scores (Davis first) 90-41. 36-78.

68-56. 81-71. 45-105. 77-44 At the close Davis led 14-10. Scores (Davis first): 52-77.

105-35, 48-81. 80-51, 42-94, 95-46 LACROSSE FIXTURES NORTH OF ENGLAND LEAGUE. First Dlttatoa: Hciton Mcreey v. Boardman and Eccles. Old Waconiam v.

Old Mancunian. Ashton MeUor. Heston Mersey Guild v. Cheadie. Old Hulmeians r.

Offeiton. Cheadie Hulmc v. Diilev. Second Division: Old StopfordUns v. Manchester University.

Cheadie A v. Sooth Manchester and Wythetuhawc. Cborlton v. Leeds University. Old Mancunians A v.

Ok) Wacontans A. Urmston v. Hcaton Mersey A. Stockport v. Old Hulmeians A.

Third Division: Rochdale v. Cheadie Hulmc A. Manchester Grammar School v. Old Groviaru. MeUor A v.

Athton A. South Manchester and Wytbenshawe A v. Old Hulmeians Extra A. Oldham and Werneth r. Old Stopbrdiani A.

Manchester University A v. Urmston A. Foartb Division: Offerton A v. Stockport A. Stockport Grammar School v.

Hcaton Mersey Guild A. Urmtton r. Manchester Grammar School Second. Boardman and Eccles A v. Oldham and Werneth A.

Fifth Division: South Manchester and Wythcruhswc v. Cborlton A. Cheadie v. Urmston C. Hcaton Mersey v.

Rochdale A. Ashton v. Old Mancunians B. TO-DAY'S HOCKEY COUNTY MATCHES. Northumberland v.

Lancashire, at Morpeth: Durham v. Cheshire, at Stockton. CLUB GAMES. Blackburn v. Lcyland Motor.

Brara-hall v. Bury. Bowdon A v. Wigan. Bradford v.

Leeds Corinthians. English Elec (Stafford) v. Crewe P.W.. H.M.S. Blackcap v.

Metrorick. Hlghtown Dceside Ramblers. Leek v. Knuuford. Lincoln v.

Br lis. Manchester University v. Bowdon. Macclesfield v. Michelin A.

Presion v. Halifax. Port Sunlight v. North Suits. St Annes v.

Northern. Sale v. Brooklsnds. Southport v. Oxton.

Timperfey x. Chorlton. Wallasey West Derby. Warring-ton v. Checlham Hill.

Worn bourne t. Stafford. Winningloo Park v. Alderley Edge. L.

Hoad and K. Rose wall. Australia's probable Davis Cup team, who beat V. Seises and A. Trabert in singles semi-finals, knocked out the Americans in the final of the New South Wales doubles championship.

The young Auitrarans won 6-3. 3-6. 4-6. 6-3. 7-5.

J. Woodlcy. the Cambridge captain, bis inrited three further men to play in the University Association footbaU batch at Wembley on December 3. They are J. Liddington (Latyraer Upper and Emmanuel), centre forward.

L. Williamson (Owen's and St Catharine's), left half, and A. Young (Arbroath. St Andrews University, and Queens'), outside right. Only one position, at right back, now remains to be flJled.

rotproof Will last a lifetime without attention OELIVERED FREE in ENCLAND and WALES Deferred Terms Available Send tot FREE BROCHURE to: ERNEST 8ATLEY 53. Colledge Road. Holbrooks. Coventry. Let Christmas in Coronation Year be the best ever.

Spend it in warmth and comfort and pleasant company at the OLD ENGLAND HOTEL WINDE ME RE (facing the lake) Four days' programme of festivities Resident Orchestra Entertainer 14 fully inclusivs Ttlephone 49 Manageress Mrs. Lodge TRUST HOUSES LIMITED The last toast of YOUR OWN GOOD HEALTH IN VICHY! Vichy corrects over-acidity. For generations this natural spa water, bottled at the Springs, has been known to those who dine and wine not only well but wisely. Sole Agents: INGRAM A ROYLE SO. MANCHESTER LONDON, W.I HOTTER WATER WITH LESS lbe KUCONOMirt nttco to your boiler lid will ive bolter water but use less luel oy burning the gases which normally waste up the Que You save ai least one bucket ol fuel in five Constant burning without constant ooktng and with less stoktna Satislactlon or money back nuarantre.

Price 1914. Write ror leaflet statine make ol boiler and whether domestic or central heating ECONOMY 20 HYDRO-THERMAL LTD. (Dept. M.O. Church BOSTON SPA.

YORXS. Tiro quaiitfg products 66 99 CAT DOC MEAT 1'6 10d. per tin All MEAT AND GKAVY WARRINGTON CANKERS LIMITED, RIVERSIDE WORKS, PINKETH, WARRINGTON Phone: Penketh 217789.