Meetings of all classes of debenture and snarcholders of Sir W.-G. Armstvong, Whitworth & Ca,, Ld. have agreed to a scheme of arrange ment drawn up by the advisory The scheme provides for a fi year moratorium for debenture forests.
Tha scheme is an "outcome Jeireular issued by the directors to the shareholders" stating that approximately £10,000,000 from the company" capital has been invested undertakings foreign to the original business, on which no re~ turn has been made or is likely to made for some time, and appeal. ing" to second and ' consolidated mortgage stockholders and others, involving nearly—£7,000,000, for modification of existing arrange: ments.
The appeal was issued on Decam= ber 10 following an unfavourable report disclosing great losses due mostly to. post-war methods and transferring of activities to ordinary industrial enterprises—Reuter,
Text read from the printed page and cleaned; old type leaves the occasional error.