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Maximum IL P. Rates to be Cut Next Month
Page 95
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IUTAXIMUM hire-purchase charges for IVI vehicles are to be reduced at the beginning of October by the members of the Finance Houses Association. For new vehicles with four or more wheels the rate will be cut from 8 per cent. to per cent, per year.
The reduction for used vehicles with four or more wheels and, not more than -five years old will be from 9 per cent. to 81 per cent., and for vehicles with fewer than four wheels and all vehicles more than five years old, from 11 per cent. to 10 per cent.
Hire-purchase interest for periods other than 12 months will be adjusted accordingly.
Many finance houses are stated already to be charging well below the new maximum scale. The maximum commission -to a dealer will remain at 15 per cent. of the quoted charge.
WORK FOR TANKERS
ROAD tankers will be used to collect 1 N.. milk from a group of dairy farmers in the Cupar Fife area of Scotland if the Scottish Milk Marketing Board approve their scheme for combining resources. The farmers arc planning to install refrigerated holding tanks on their farms and will have to produce a minimum of 1,500 gal. a day if their project is to be accepted by the board.
Tanker collection of milk in Scotland . has been introduced quietly over the past few years, and there arc few schemes operating. These have been introduced by farmers rather than the marketing board, which has merely provided the financial encouragement where pro ducers were prepared to go ahead on their own in this transport field.
ITALY-SICILY BRIDGE PLAN
PLANS for a four-mile bridge to connect Italy and Sicily have now reached an advanced stage, it was announced last week. The 2+m. bridge would have two levels, the lower one, 210 ft. high, would carry rail traffic, and the upper one, 246 ft. high, would have a four-line vehicle carriageway.
£100,000 DAMAGE BY LORRIES
LadORR1ES working on the LondonYorkshire Motorway have caused £100,000 worth of damage to roads around Harlington (Beds). An estimate for this amount to be spent on repairs is being presented to the county highways committee by their surveyor.