Injunction Not to Sell Company
Page 47
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I N the Chancery Division on Tuesday, Mr. Justice Cross granted an interim injunction until today to Mr. John Augustus Hill, Bottings, Curdridge, Botley, restraining Mr. Edward Henry Smith and his father, Mr. Edward Henry David Smith, Parkland, Earcham, from disposing of the issued share capital of Direct Roadways, Ltd.
Mr. A. C. Sparrow, for Mr. Hill, said that on the morning of March 8, his client had agreed verbally with Mr. Smith, jnr., to purchase the business for £5.500. Mr. Hill was told later that it had been sold for £6,000 to another purchaser by an agent that evening.
The defendants contended that the contract with Mr. Hill was conditional upon completion of the purchase while the business remained unsold. Mr. Hill denied that that was a condition.
CONSOLIDATION BILL IN THE COMMONS
THE Road Traffic Bill, which consolidates legislation since 1930, received its Second Reading in the House of Commons on Monday, having been passed without amendment by the House of Lords.
Mr. A. Wedgwood Beim wondered why this legislation was being put through when another Bill was pending before Easter. He thought that it would be better to have a consolidation Bill after the new legislation was enacted.
Sir Jocelyn Simon, Solicitor-General explained that as road-traffic legislation was so frequent, to hold up a consolidation measure pending fresh legislation might cause indefinite delay. There were about three such enactments each year.
The Bill will become law in September.
DEMAND FOR 40-HOUR WEEK
ACALL for a 40-hour week, as a step towards an ultimate 32-hour week, and another for the reintroduction of The heavy-goods-vehicle driving licence were made this week at the annual conference of the Scottish Horse and Motormen's Association in Edinburgh.
The conference was also asked to condemn the use of coaches on motorways at extremely high speeds: 80 m.p.h. was described as "suicidal." Such speeds were not in the interest of the public " and particularly of our members," said a resolution from the Edinburgh branch.
Another resolution sought to prevent drivers from instructing learners until they had held a substantive licence for two years.
T.D.G. PROFIT INCREASED
AN increased profit was announced on Wednesday by the Transport Development Group, Ltd. The company's net profit rose from £231.015 in 1958 to £363,221 last year. These figures were struck after tax, which increased from £182,563 to £217,793.
Dividends for the year totalled 15 per cent. A new scrip issue on the basis of one share for each three held is mooted. A'similar issue was made a year ago.