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LONDONDERRY ACCEPTS OFFER OF MR, H. M. S. CATHERWOOD.
Page 101
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:Londonderry_ .Corporation has .1. decided to lease; the municipal bus undertaking tee H. M. Catherwood, Lo.,. one of the 'biggest: private „bus ,Opermors.in rir,niler the terms _ arrangedthe 'company-is 'to -take over the' Corporation's liabilities on the . municipal be account, estimated at 3,6O0, 'this areetint to be paid in equal instalments during the next five years. Catherwood, Ltd.. will acquire the corporation buses at their market Value and will share equally with the eor Poration the net profits from' 3-car to year it will-take over the .corporation bus staff, and will -here' the lease of the city. streets for the purpose uf the bus service's for periOd' of 20 years:. with the option Of 'diScentiniiing:dt I,he end -of 10' years,. Upon giving' 12 Worths notice. to tlie corpbration. It is understood that as a result of this agreement Catherwood, Ltd., intends buildieg'a large garage in Londonderry estimated to cost 115,000. This will be made the headquarters of its services in the north-west of Ireland. In addition to eork of routes in the city the company is to inaugurate services in the surrounding districts and in County Donegal, Which is situated in the Irish Free State. It is also proposed to build a garage at Falcarrngit. Mr. Catherwood, whose services were Fthe first to cross the Northern Irelandree State border, already operates on two routes from Belfast embracing portions of both states.