PROGRESS OF A MIDLAND BUS UNDERTAKING.
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Some Details of the Past Year's Activities of the Trent Motor Traction Co., Ltd.
TEE 15th ordinary general meeting of the Trent Motor Traction Co., Ltd., was held in London a few days ago, when Mr. W. Hart, J.P., the chairman of the company, presided. At the outset the chairman made it clear that the company's business had been further consolidated and extended during the past year. Its services continue to maintain a high standard of reliability, comfort and frequency over more than 300 miles of roads throughout the area reaching to Matlock and Mansfield in the north, Lowdham and Radcliffe-onTrent in the east, Leicester and Ashby-de-la-Zouch in the south and Uttoxeter and Ashbourne in the west.
The chairman made a reference to the obligations of local licensing authorities and pointed out that on some routesbus licences are granted in unrestricted numbers. A result of this policy is the flooding of roads with all sorts and conditions of buses intended, no doubt, to give better services to the public, but
actually increasing the dangers, cost and difficulties of the efficient maintenance of public passenger transport. Certain of these dangers arise from the practice of racing between certain bus owners and partly from the low standard of maintenance of the vehicles.
After further discoursing upon this matter the chairman said that he looked to licensing authorities to act in the best interests of the general public by regarding, from a more comprehensive viewpoint, the difficult conditions under which responsible undertakings strive to maintain and improve their public transport facilities.
The chairman then went on to refer to the financial trading of the company, and mentioned that the total revenue from all sources amounted to 1225,443, this figure showing an increase of 124,599 over the previous year. With regard to the debit side the payment for licences absorbed 110,754, which is 71.69 per cent, of the amount set aside for distribution in the form of dividend. Another large item was that concerned with salaries and wages, national insurance and benefit funds, amounting in all to £107,703, this representing 47.77 per cent, of the gross revenue. The figure of £55,558 for fuel, tyres, materials and certain other expenses,
was higher than that for the previous year owing to the company operating a larger fleet of vehicles. After charging all expenses against revenue, there remained a balance of 113,216, which, with the balance brought forward from the previous year, gives a total of £17,148. •
On the assets side of the balance sheet the item representing freehold land and buildings is more than half on account of the company's garage properties in Derby. The remainder represents freehold land and depots in Mansfield, Loughborough and .Alfreton. There is a figure of £17,207 in respect of leasehold properties, principally in Nottingham.
i As was mentioned n our issue dated March 6th, the company is paying a dividend on the share capital at the rate of 8 per cent., this being the same as for the previous year, and leaving
.12,146 to be carried forward. • . Since the previous.year the company's fleet has been increased to 151 buses and motor coaches, and 18 additional vehicles are in course ofi delivery. It is interesting to note that most of the vehicles are now being run on pneumatic tyres. Since the close opthe year, the traffic receipts from the operation of • the • company's buses have shown a marked improvement. ' •