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LONDON ROAD CAR COMPANY.

15th August 1907
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Page 8, 15th August 1907 — LONDON ROAD CAR COMPANY.
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Which of the following most accurately describes the problem?

The 49th half-yearly accounts of the London Road Car Company, Limited, to which we made a brief reference last week, show that the working expenses for the half-year ending the 30th June last, with comparisons for the corresponding period of 1906 in parentheses have been as follow :—Road, .4-67,258 (E.,67,847); yard, .4;18,084 (L22,o3o) ; maintenance, -£57,477 (67,808); general repairs, .4-63,288 (4'34,365); and administration, 4;8,903 (..",'8,748). The reduction in the maintenance charges occurs under the heads of forage (including granary charges), bedding, shoeing, and veterinary services, whilst the great increase in general repairs is due to " car and motor repairs and renewals including salaries." tt should • be noted, however, that the increase of repairs shows a marked improvement when the numbers of motorbuses for the two periods are taken into account, and these were stated by the Chairman to be an average of to6 for the past half-year, compared with only 49 for the first half-year of 1906. It is

• clear that the company has got its running and repair costs well in hand.

Turning to the receipts side, we find that the total revenue from omnibuses is £200,540, compared with ..2o7,79 and this apparent shrinkage of _4;7,251 in the receipts is really very much more serious than at first sight appears. Taking into consideration the number of passengers carried, and the number of omnibuses (both motor-propelled and horse-drawn) which were in operation during the two periods under notice, it is clear that, had it not been for exceptionally unfavourable weather, and the effects of tube competition, enough vehicles were maintained in service this year to have earned something like another £20,000 in fare receipts! The total revenoe for . the half-year is L214,78.7, whilst the total expenditure is £219,691.

The " Substitution suspense ac count "continues to creep up in a somewhat disconcerting fashion : it stood at only £28,850 a year ago, and it had increased to .4;56,847 six months ago. It now stands at the high figure of -Lgo,937, but it must be pointed out that this includes a' charge of .-13,260 in respect of the loss upon chassis which, having proved unsuitable for the company's purposes, have been sold, as well as the cost of training motor drivers. The only other point in the accounts which appears to call tor criticism is found in the amount transferred for depreciation and renewal of motor chassis, this being only J;5,000 for the half-year. Our calculation shows that this is again at the rate of less than 12 per cent, per annum upon the first cost, which is obviously insufficient in these transition days.

The Half-Yearly Meeting.

Mr. J. Howard Moore, Chairman of the directors, presided at the general meeting of shareholders, at the Cannon Street Hotel, on Tuesday last, and he made a few interesting remarks in the course of his speech when moving the adoption of the report and accounts. He took Sir Henry Oakley, Chairman of the Central London Railway Company, to task about his recent reproach of motorbus companies for an alleged insane reduction of fares, and pointed out that omnibus directors could not take tube competition lying down. At the end of 1905, there was only some eight and a half millions of capital invested in the City and South London, the Great Northern and City, and the Central London tubes, but the capital now involved in similar undertakings was at least 75 per cent. greater [We make it to be fully double.—Ea], and the new companies were taking an average of at least £7,500 per week in fares which were not so taken until quite recently. The criticism of railway directors about undue competition

therefore failed, but he was glad to say that some improvement in the matter of fares might result from the recen: conferences between representatives of London passenger-carrying interests.

Mr. Moore proceeded to give some in. formation to the shareholders about the various types of motorbuses which the company had tried during the last few years, but he did not give the names, although we were readily able to " make the cap fit " in each case. After his references to the types which were criticised fixone reason or another, he pointed out that the StrakerSquire and Maudslay vehicles "have shown good working; profits since the first dale of their being put to work on the streets,"

and he proceeded to hold out to the shareholders prospects of an improved result on future occasions. Several shareholders put' questions to the Chairman, one gentleman taking grave exception to the payment of the dividend on the deferred shares, on the grounds that no profits had been made, but the motion for the adoption, of the report and accounts, which Was 'seconded by Mr. Paul Henwood, was carried nemine contradicente, practically the whole of the go odd shareholders present voting in favour of it, and of the subsequent vote of thanks to the Chairman.

The directors of this company have a difficult charge, but we believe they have got over the most troublesome period, for, with their shareholders' support, .eoupled with the good relations which exist between the management and the men, by reason of the fact that this company did not go back upon the .arrangements in regard to relief and other matters which were settled by the award at the termination of the strike in 1891, they have two powerful factors to assist them. The Clarkson System.

We are interested to learn that Mr. Thomas Clarkson has effected several considerable improvements in his steam omnibuses, with the result that the London General Omnibus Company, Limited, has decided to convert eight of its 12 Clarkson vehicles. A number of these conversions have already been effected, and the results promise exceedingly well. The changes principally bring about a steadiness in the steaming capacity, whilst slide-valves have been fitted in place of pistonvalves. The piston-rods have been fitted with plastic metal packing, in order to prevent the " blowing " which used to give trouble at starting, and the feed arrangements have been greatly simplified. The cars are now practically silent when standing, and no light is visible from an external point, whilst the whole re-arrangements have effected a material reduction in weight. The superheating coil is separate from the rest of the boiler, and can now be changed quickly at a cost of about £2, which is not excessive when one is able to state that it should last at least two months. Again, the boiler can now be entirely removed for re-tubing in less than two hours, and the inclusive cost of re-tubing and testing has been reduced to .10, the cost of the tubes alone being 4:6.

While on the subject of the Clarkson system, it is interesting to quote a report from a local correspondent to the effect that no less than 5,300 people were carried by nine Clarkson omnibuses, at Harrogate, on Bank Holiday last, and that nine vehicles out of ten are regularly kept on the road by the engineer to the Harrogate Road Car Co npanv, Limited, Mr. Fuller. The Grosse Berliner Strassenbahn's Sunday service of motorbuses between Berlin and Potsdam has proved so popular that the company is now running four services daily, namely, at 9.30, 10.30, 3 and 4 o'clock. Buses start in Berlin from the Brandenburger Tor, and in Potsdam, from the Glienicker Brake. The single fare is about is. 3id. of our money, return tickets costing about 2S. 3d. Children pay half-price.

An Irish Flotation.

The Motorbus and Traction Company of Ireland, Limited, issued its prospectus recently, and offered ioo,oco ordinary shares of -Li each for public subscription, out of an authorised capital of ;4;2o5,000, which is divided into 200,000 ordinary shares of L:t each, and too,000 deferred shares of is. each. The first mention of this company will be found on page 407 of our issue of the ioth January last.

The prospectus estimates an annual profit of £26,250 from the operation of 75 motorbuses, and the directors contemplate the establishment of services around Dublin, Belfast, Cork, Waterford, Galway and Tuam, and along the principal tourist routes in Ireland. It is reckoned that there will be a profit of 3d. per mile per omnibus on the basis of too miles a day per vehicle for 280 days in each year, and this basis, having regard to the irregularity of tourist traffic, and the severe competition of other carrying agencies in the principal towns named, appears to us to be excessively optimistic. A Mr. Ronald G. Batchelor, of 69, Victoria Street, S.W., is engineer to the company, and we observe that it has been deemed necessary to buy omnibuses through a Paris agency. It is improbable, with motorbus finance as it stands at the moment, that the issue will have proved successful; no information is obtainable.

The increasing number of " Meg-evet's Patent '' honeycomb radiators which are being employed on motorbuses and commercial motors, forms one of the best indications of the satisfaction which follows its adoption. John Marston, Limited, of Wolverhampton, which company is the sole licensee to manufacture this type of radiator in the United Kingdom, has greatly improved the early models, and the result is now a well-made .and efficient cooler of neat appearance.

Todmorden Losses.

The financial results of motorbus operation at Todinorden are, as we have indicated before, anything but satisfactory. A loss of L5oo has been experienced during the three months ending the 3oth June last, and we are sorry to have to express the view that the omnibuses have not been given a proper chance to prove themselves a success. The Committee evidently has hopes for the future, and the Council, at its last meeting, passed a cheque for £735 in payment for the new 4oh.p. Ryknield omnibus that was delivered about the middle of last month.


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