CHAPMAN & WILLAN LTD.

The apparent band or panel may depend on the narrow funnel: the same design can be described either way.

Reed 1912 presents a similar band/panel ambiguity. A Carlton photograph shows a panel at an angle that would resemble a band from the side. Stewart 1953 and 1957 attributes C124 to Cambay and Carlton, suggesting group livery. FOTW initially misnamed the company Chapman & Wilson before correction.