CHAPTER IV 
THE STORY OF COURTAULDS 
AND BRITISH CELANESE 
OURTAULDS is the most brilliantly 
successful firm in Great Britain. It is 
a firm to study—to emulate. 
Whatever Efficiency means in the Artificial 
Silk trade, Courtaulds has it. No other firm 
in Europe has piled up so many millions in so 
short a time for its lucky shareholders. 
At an annual meeting of railway share- 
holders, when the small profits for the year 
were announced, a disappointed shareholder 
rose and asked : ““ Why cannot we get a 
Director from Courtaulds on our Board, to 
show us how to make profits ? 
Courtaulds has a capital of £32,000,000, 
and only £2,000,000 of this was paid in. The 
rest came out of profits, It has paid the 
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