REDCAR CO. SAID TO HAVE SOLD OUT.
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I T is reported that Maidstone and
District Motor Services. Ltd., has taken over the business of Redcar Services, Ltd., Tunbridge Wells, the wellknown independent coach and bus company. It is stated that the, Redcar shareholders have agreed that the company's assets should be sold to the Maidstone organization for a sum of 06,650, in addition to compensation for directors and certain members of the staff, to the extent of £13,350. The managing director of the Redcar concern is Major J. B. Elliott, chairman of the Motor Hirers and Coach Services Association.
The company has an authorized capital of £72,500, of which £50,203 has been issued, and runs about 70 vehicles, of Albion, Dennis, Leyland and T.S.M. makes. The Maidstone and District company is a member of the Tilling and British Automobile Traction group, and has a capital of £500,000.