COMPLAINTS OVER TILLING AND S.M.T. SETTLEMENTS QOME dissatisfaction is being
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ex pressed over the agreements for the sale of the Tilling and S.M.T. passenger-transport undertakings to the British Transport Commission.
The senior partner in a London Stock Exchange broking concern has protested to the Scottish Motor Traction Co., Ltd., against what appears to be the company's intention, on liquidation, to pay 20s. to 22s. 6d. for the 6f per cent. it cumulative preference stock. He maintains that the preference shareholders should be paid 32s. 6d. per a unit. The ordinary shareholders will receive more than 20 times the nominal value of their holdings.
In the House of Commons on Monday, the Minister of Transport said that compromise figure for compensation for loss of profits could not be expressed as an agreed sum multiplied by an agreed number of years' profits.
in a letter to "The Financial Times," Sir Frederick Heaton, who was chairman of most of the former Tilling companies, defends the interests of the minority shareholders in the concerns taken over. Some time ago, Sir Frederick suggested to Sir Cyril Hurcomb, chairman of the Commission, that minority shareholders should be offered terms similar to those given to Thomas Tilling, Ltd. The reply was " most non-committal," but he maintains that, as the settlement was announced about four months ago, the shareholders concerned' are entitled to expect action by the Commission in the near future.
LEYLAND SHIPS 3,000 TONS OF PLANT BY ROAD
WITH the exception of 27f tons, which travelled by, rail, the whole of the 3,000 tons of machinery and production plant formerly installed at the Kingston-on-Thames works of Leyland Motors, Ltd., has been transferred by road to Leyland. Because of the necessity of keeping up production, the transfer has taken nine months to complete.
Six local hauliers helped in the work. Their rates for door-to-door delivery are Stated to have been far cheaper than the railway's station-to-station charges.
'FROLLEYBUSES FOR, COLOMBO?
COLOMBO (Ceylon) municipality is to ask the Minister of Local Government for permission to run 20 trolleybuses in part of the city.
To deal with the peak traffic in the city, eight double-deck 64-seater motorbuses are to be purchased. When they are in service, there will be 18 double-deckers, nine 47-seater singledeckers and nine 41-seater single-deckers on the route in question.
1,000,000 MILES IN 16 YEARS A DOUBLE-DECK bus operated by Crosville Motor Services, Ltd., has just completed its 1,000,000th mile. The vehicle first went into service 16 years ago and although the petrol engine ,was replaced by. an oil unit, the body and chassis are those Originally supplied: .
The 1,000,000th mile was reached while the bus was on a normal trip from Birkenhead. It was stopped at this point and, in a short ceremony, the passengers were presented with a souvenir brochure and had their fares refunded.
STATE CONTROL IN THREE STAGES MATIONALIZATION of road pasI senger transport in Mysore is being undertaken in three stages, at each of which 150 buses are to be put on the, road. Services radiating from Bangalore city have already been nationalized, and 89 buses have been placed on various routes. The Government hopes shortly to introduce 30 more buses, which are to be built by the Madras Government. APPEAL TRIBUNAL CHAIRMAN HONOURED
A LUNCHEON was given last week
by members, deputy members and the clerk of the Appeal Tribunal to its retiring chairman, Mr. Gleeson E. Robinson, C.B., MC.. LL.D., who is shortly to take up residence in South Africa.
Mr. E. S. Shrapnell-Smith, C.B.E., as senior member, presided. Those present included Sir Archibald IVIcKinstry, Capt. B. H. Peter, Dr. R. S. Edwards and Me. Arthur 0. Ridout
(clerk to the Tribunal). Mr. G. H. Redman is overseas and Mr. Sherwood Calver, K.C., and Prof. T. M. Knox were unable to leave Scotland.