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new transportation dimension which can cultivate and develop these new markets.

Not so long ago, when the airplane first appeared in trans-Atlantic travel, there were those who asserted that volume in this area was very limited. This was erroneously based on the fact that only a handful of airplanes could handle the passenger volume then moving by steamships. While from a static point of view this correct, cold realities proved how wrong past statistical data can be without a little forward imagination. It is, of course, well known what has since happened. The airplane with its speed, flexibility and low cost has gone on to create entirely new markets and boomed passenger trans-Atlantic volume to progressively new peaks. On the other hand, it should be noted that during this same period, steamship traffic has also increased. 

In closing, it is evident that we and our friends at Los Angeles Airways and Helicopter Air Service, are making substantial contributions in the national interest. None of these things would have been possible without the financial support of many investors who have assumed the risk and furnished the essential equity captial without hope of immediate return. With a fuller understanding of our accomplishments and of the far greater potentialities yet to be realized, the relatively limited government support we require will be recognized as of a self-liquidating nature of benefit to the entire country. 

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