Eastern Counties Passenger Transport.
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The annual meeting of the Eastern Counties Road Car Co., Ltd., was held a few days ago, when details of the company's activities for the year ended September 30th last were reviewed. During this period the net traffic receipts and other revenues, after providing for renewals, amounted to £18,116, which, after deducting administration and general expenses, is reduced to 19,656, to which must be added a sum of £5,997 brought forward from the previous year. Out of this sum £500 is transferred to the reserve account, and a dividend on the ordinary shares at the rate of 10 per cent. per annum absorbs £8,591, leaving £6,562 to be carried forward.
The company have made considerable progress during the past year, and many new routes have been opened up, whilst the fleet has been increased by
the addition of 15 vehicles. New garages have been erected at Bury St. Edmund's and Framlingham, whilst the garage accommodation in Ipswich has been extended.
The company's area of operation now extends from Thetford in the north to Colchester in the south, and from Thorpeness in the east to Newmarket in the west.
Mr. C. Shirreff Hilton, chairman of the board of directors, who presided at the meeting, said, in referring to the maintenance of the fleet, that they had only one mechanical breakdown for every 36,000 miles run.