296 



DISCOVERY 



modification, and it is with the modified scheme that 

 the Treasury is at present concerned. The technical 

 side has not been altered except to curtail it somewhat 

 in accordance with the reduced financial commitments. 

 The present proposals are that the promoters, on 

 signing the agreement with the Government, are to 

 form a guarantee company with a capital of £600,000, 

 which company would undertake to form an airship 

 company of £400,000 capital (£200,000 paid up), the 

 Government to pay to this company on incorporation 



has been able to run a weekly service to India for at 

 least three months prior to the date of the renewal of 

 the subsidy, the Government would agree to pay three 

 further subsidies of £400,000 a year, the capital of the 

 company meanwhile being increased from £1,700,000 

 to £3,000,000, the service being, e.xtended as necessary, 

 until the full twice-weekl}' service to India and once- 

 weekly to Australia had been inaugurated. 



At the end of this time the subsidy, which had been 

 paid at the rate of £400,000 a year for seven years (a 



I 



VIEW slIuV.I.NG MBTHOD OF COXSTRUCTING THE HUEE OF A RIGID AIRSHIP. 

 The girders aud bracing wires are in position, tlie gas bags have been iustnlled and the outer envelope is about to be placed in posiUon. 



£400,000 as the first year's subsidy. The company 

 would then erect the necessary mooring masts and 

 plant, and build one airship of 5,000,000 cubic feet 

 capacity in order to test the route to India. 



Subject to this airship passing its trials and carrying 

 out a flight to India in less than 100 hours' time, the 

 subsidy at the rate of £400,000 a year would become 

 payable for a further three years, and the company 

 would increase its capital from £400,000 to £1,700,000. 

 If, before the expiration of the third year, the company 



total of £2,800,000), would become repayable to the 

 Government, half the profits above 10 per cent, earned 

 by the company being paid to the Treasury, until the 

 full £2,800,000 had been paid oft'. 



Airships with Gas-bags of Ten Acres 



The vessels to be employed on the service will be of 

 5,000,000 cubic feet capacity, and will in all proba- 

 bility be built by Vickers Limited, who constructed 

 four of our fourteen rigid airships during the war. 



