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Stoke to Buy , Bus Companies ?

12th June 1936, Page 62
12th June 1936
Page 62
Page 62, 12th June 1936 — Stoke to Buy , Bus Companies ?
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A CCORDING to newspaper reports .1—tpublished early in the week, negotiations are taking place with a view to the purchase by Stoke-on-Trent Corporation of various bus services. The total cost was said to be over £1,000,000.

Inquiries by The Commercial Motor, however, failed to gain confirmation and a representative was informed by an official of Stoke-on-Trent town clerk's department that negotiations have not been discussed by any of the corporation committees.

Mr. J. G. Leese, chairman of Associated North Staffordshire Motor Omnibus Proprietors, Ltd., is reported to have made a brief statement regarding rumours that Stoke Corporation has made overtures for acquiring that corn pany. He said : " Preliminary negotiations have been taking place, but so far nothing has been done."

Corporation members are said to have been told that the Associated Proprietors group is not willing to dispose of the business at a figure per vehicle, but that negotiations should be conducted by the production of balancesheets and a valuation of vehicles and goodwill.

One concern alone, the Potteries Motor Traction Co., Ltd., has some 250 vehicles and profits last year reached the record of £75,000.

Newcastle-under-Lyme Corporation favours the idea of municipal control of buses in the district, having asked Stoke Corporation to join in considering such a development.

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People: J. G. Leese
Locations: Newcastle

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