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11th February 1909
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Which of the following most accurately describes the problem?

The Standish U.D.C. thinks that workmen's fares should be arranged on the local motorbus service (Standish to Coppull).

Leyton U.D.C. wants to see speed indicators on motorbuses and tramcars. Its Tramways Committee is now considering the Board of Trade view that a proportion of the tramcars should be so fitted.

Road Traction Engineers.

Mr. J. Veitch Wilson, of Price's Patent Candle Company, Limited, will read a paper, on Monday next, the isth instant, beginning at 8 o'clock p.m., on the subject of : " Oils of Commerce—their origin, properties and uses." The meeting will be held at 112, Piccadilly, W.

Half-hearted Opposition to Progress.

Only 14 out of the 28 Metropolitan Borough Councils have consented to be represented at the conference of heavy motor traffic, which conference is the outcome of an agitation by a few members of the Lewisham Borough Council.

Electrobus Extension.

From Monday last, the London Electrobus Company has extended its chief route from Victoria, Westwards, to Earl's Court, via Ebury Street, Sloane Square, Sloane Street, Brompton Road, and Cromwell Road. The company's application for permission to display illuminated advertisements has been refused by Scotland Yard.

Above 12 Miles an Hour.

A motorbus driver named James Knock was, on the 6th instant, at Stratford, summoned for exceeding the Ix-mile limit, and in a manner dangerous to the public. [There appears to have been no submission by the defendant's solicitor that one charge only was permissible.—En.1 Police evidence showed the rate of travel over a measured furlong to have been in excess of ig miles an hour; the road was very slippery, and other vehicles were about.

The defence was that, in view of the regulation of the Commissioner of Police that no motorbus should be able to exceed the legal speed, the driver should not be convicted, but the Bench imposed a fine of 40s., with 45. costs.

We comment elsewhere (page 459) on this Matter.

A New Vanguard Flotation.

H.M. battleship " Vanguard," the seventh of the " Dreadnought " class, will be launched from Vickers, Sons, and Maxim's yards, at Barrow-inFurness, on the 22nd instant.

Another Peter Union Success.

An offer of the Peter Union Tyre Company, to supply tires for motor omnibuses during tile next two years, at a charge of Lid, per mile run, less 5 per cent, cash discount, has been accepted by the Town Council of Eastbourne.

A Scottish Promotion.

The Fife Motor Transit Company, Limited, with an authorised capital of 4:2,500, and its registered office at Hunter Street, Kirkcaldy, N.B., is now inviting subscriptions, with a view to the establishment of a service of motorbuses in the neighbourhood of Cowdenbeath. It is intended to purchase two 34-seated vehicles, and one 20-seated vehicle.

Central London Railway.

Sir Henry Oakley and his co-directors don't like motorbuses, and he equally fears the adoption of penny fares on the erstwhile " twopenny " tube. We quote from his speech to the shareholders on the 4th instant :—

" The motor and omnibus competition along the whole length of their route was not only incessant, but it was increasing. They had, of course, watched it day by day, and the proprietors would be surprised to hear that going east, taking Lancaster Gate as the point, there were 647 motor omnibuses passing over practically the whole of their line from Lancaster Gate to the City, and 185 horse buses every day of their lives. At the British Museum it was even worse. There were 707 motor omnibuses and i,103 horse buses stopping and picking up passengers, especially for short distances. That brought him to the question of penny fares.

" There were a great number of people who now used their railway daily, and paid them twopence for distances that would be covered by the penny fare. A moment's thought would show them that one-half of the fares now paid by those people would he a loss to them as a starting point, and, inasmuch as their expenses were practically so per cent. of their receipts, the penny that remained now was profit. The directors, who had the material before them and 'looked at it almost day by day, were doubtful as to the right course to pursue. They had got a good thing, and he was sure they were all too much interested in the subject to urge them to place it at any risk."

Vanguard Liquidation.

The petition for the compulsory winding up of the Vanguard Motorbus Company came again before Mr. Justice Swinfen Eady in the Chancery Division of the High Court of Justice on Tuesday. The Hon. F. Russell, K.C., and Mr. Arthur Sims appeared for the petitioners, Col. A. H. Mayhew and others ; Mr. Younger, K.C., for the company ; Mr. Micklem for the directors and Mr. McNaughton for the London General Omnibus Company.

The case had been adjourned at the last hearing at the request of Mr. Younger, who had stated that allegations had been made that some companies had sold their business to the Vanguard Company under circumstances that would require investigation which would take some time.

The Hon. F. Russell, K.C., now opened the case for the petitioners, Col. A. H. Mayhew, Major E. Rhodes, Mr. N. C. Graham, Mr. W. E. Nichol. J.P., and Mr. Chas. Walker, J.P., D.L. He said these five shareholders represented 18,poo shares, and he also appeared for 1,719 other shareholders representing 124,685 shares.

His Lordship : Are any other creditors or shareholders opposing or supporting this?

Mr. Russell : There are some (x) shareholders representing 112,524 preference and ordinary shares. They, for the most part, are the persons whose conduct will be impeached in these proceedings. He proceeded to give the history of the Vanguard Company. The issued capital was 292,143 ordinary shares and 372,76o preference. The first of the four companies was the London Motor Omnibus Company, Ltd., which was registered on January 7th, 1905, with a capital of -1:103,00o. The seooncl was the London and District Motor Omnibus Company, Ltd., registered on March 1st, 1905, with a capital of -(4o5,000 ; the third was the Motor Bus Company, Ltd., registered on May Toth, inos, with an original capital of 4.too, which was subse quently increased to L303,000; the fourth was the London and Provincial Motor Bus and Traction Company, Ltd., which was registered on February 5th, 1906, with a capital of £.305,000. Except in the case of the first company mentioned, none held any annual meeting, nor did the directors furnish the shareholders with a statement of accounts. The allegation was that these companies were formed and promoted by a group of persons not acting in their own names, but in the guise of small promoting syndicates which they formed themselves and by which they were able to make first profits for themselves. Counsel proceeded to mention these gentlemen by name, and alleged they had saddled these four companies with contracts which were entered into simply with a view to have something to sell themselves.

His Lordship (interrupting): We are dealing with the winding up of the Vanguard Company. Tell me something about this first, so that I may appreciate the position.

Tile 11011. F. Russell : I think mine will be the easier %%ay. It is with a view of showing your lordship that 1.ach vendor company had behind it a " promoting syndicate " prior to their sale to the Vanguard Company.

His Lordship : Has each company gone into liquidation?

The Hon. F. Russell : They respec. tively went into liquidation with a view of selling themselves to the Van guard in July, 1907. Continuing, counsel said that on July 20th, 1908, the Vanguard Company passed a resolution selling itself to the London General Omnibus Company, and on December 29th went into voluntary winding up, Mr. Peat being appointed liquidator.

His Lordship : Does he appear to have taken any steps to inquire into this matter?

The Hon. F. Russell : He has taken no steps for inquiry. Counsel proceeded to give the details of the dealings between the four companies and the various syndicates connected with them, and which included : "British Motor Bus Trust Co.," " Motor Urn nibus Construction Co.," " Motor Transit Trust, Limited," and " British Motorbus Trust, Limited." He suggested that the promoters should be made to disgorge their profits on these transactions for the benefit of the Vanguard Company, The petitioners did not in any way suggest that the sale to the London General should be stopped. The only point was whether relief should be given to take proceedings to swell the assets of the purchase by recovering the amounts indicated. Counsel, continuing, objected to Mr. Peat as liquidator, as, with Mr. Harmood Banner, he was also liquidator to the four companies absolved by the Vanguard. In concluding his opening address, which had lasted nearly three hours, counsel submitted that he had put ample material before the Court to show that it was a case where investigation of the strictest kind was necessary, and there was every prospect of a substantial sum being recovered for the Vanguard Company.

Counsel filed affidavits, and the hearing was adjourned until to-day.


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