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Haulier's Debts "Will be Paid in Full"
Page 93
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L'ABILITIES of .£11,515 incurred by Duffield Transport, Ltd., Colwick Road, Nottingham, would he paid in full, a director stated at a first meeting of creditors last week. A winding-up order was made against the company in the High Court last July.
Mr. F. Dirs, Assistant Official Receiver, said the, order was made on the petition of a debenture-holder, whose claim was for £9,635. The company were incorporated in 1949 with a nominal capital of. £1,000 in 11 shares, and this was increased two years later to £10,000, of which £8,000 was issued.
The control of the business passed to Mr. M. S. Frank, a chartered accountant, and he and his wife were the effective directors at tbe date of the winding up. A statement of affairs had not yet been lodged, but Mr. Frank said the company's liabilities were the debenture-holder's claim for £9,635, and one by himself for £1.580 on loan account and £300 P.A.Y.E. deductions. The Inland Revenue Department had lodged proof of debt of €425, which was for Schedule D tax in 1957-58, but Mr. Frank thought this claim would be cancelled because the company ceased trading some time ago. Mr. Frank estimated assets at £12,181, the principal item being £11,805 owing on loan account by an associated haulage company which also operated from Colwick Road. Mr. Frank was director of this company, and the claim would be. paid in full. No resolutions were passed by the creditors, and the liquidation was left in the hands of the Official Receiver.
NO CIRCULAR ROUTES
CIRCULAR bus routes would never pay these days because people want to get direct to their destinations, Southport Council were told by a former chairman of the transport committee, Aid: T. Ball. He pointed out that the public's habits were changing even when Southport's bus undertaking was prosperous, which was why they had dropped circular operations. ' By a large majority the. conned defeated a suggeStion that circular routes should be re-introduced. Ur. J. Todd, :chairman of the transport committee, said such an experiment could not he afforded at the present time.