Swansea May Buy S.W.T. Services
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nESPITE warnings by Mr. W. T.
James, chairman of the South Wales Transport Co., Ltd., Swansea Corporation are reported to have decided, in principle, to exercise their option to buy the company's passenger transport interests in the city.
The corporation may do this under the Swansea and District Transport Act, 1936, but must serve the company with notice between July 1 and December 31. Acquisition would deprive the company of a third of their fleet and cost about £500,000.
Mr. James, at the company's annual general meeting, doubted whether such a sum could be raised or whether the corporation would "wish to hazard the risks of operating a municipal passenger
transport undertaking in today's difficult conditions."
Mr. Percy Morris, M.P., mayor of Swansea. made no statement on the matter, apart from saying that a final decision would not be reached for some time.
RECORD DUNLOP SALES nUNLOP sales to the public last year
reached a record of £219m., a rise of 15 per cent, over the level for 1954. The estimated increase in the volume of goods sold was 6 per cent. Aggregate sales, including supplies within the group, rose from £262m. to £302m.
Selling prices were not advanced sufficiently to offset the increase in costs of raw materials and other items, and the margin of profit, as a percentage of sales, fell from 6.2 per cent. in 1954 to 53 per cent. after all charges except tax
N.B. TO SPEND Om. DURING the next three years, the North British Rubber Co., Ltd., plan to spend about £3m. on a modernization programme, Sir William Wallace, chairman, stated in his annual report last week. New equipment is to be installed in the company's tyre factory. The company is backed by the United States Rubber Co.