It is possible that the late Mr. Cels Con applied a test of 1,500 lbs to each of a batch of 418 pipes under the impression that they were going to Hongkong; and it is possible that Mr. E. Smith has not made a butt-welded pipe for 20 years; but it is also possible that Mr. E. Smith found it more profitable to substitute cheaper pipes, bought outside his works, for those passed by Mr. Preston.
D. P. V. 26.8.07.