S.M.T. Deal Goes to Shareholders
Page 6
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STOCKHOLDERS will be requested at an extraordinary meeting, to be held in Edinburgh on April 8, to confirm an agreement for the sale of the road passenger transport undertaking of the Scottish Motor Traction Co., Ltd., to the Britiah Transport Commission.
The purchase price is £20,497,581. As the B.T.C. already owns half the ordinary shares, it takes over the remaining S.M.T. transport assets for about £10,250,000. Of the purchase rrice, £8,598,791 wilt be satisfied in 0,430,187 of British Transport 3 per cent. stock, 1968-73, at 102 per cent.
At the meeting, on April .8, the transfer of S.M.T. Sales and Service to a new Company, to be called S.M.T. Sales and Service Co., Ltd., will also be proposed, OBITUARY
liT/E much regret to announce the IT sudden__ death, on March 24, of MR. A. DRYSDALE WILSON, Mitvlech.E., F.I.M.L, assistant-controller of transport (vehicles), Ministry of Works. 14..4 was a man of great technical knowledge with a long experience in the industry, and had served in capacities up to works manager. with the Daimler, Karriei; Studebaker, Morris-Commereial and other companies. At on time he,was chairman of the West Midland Centre of the, then, Institute of the Motor Trade, and was consulting engineer to the Industrial Transport Association. He read many papers before various associations and institutes, some of these embodying suggestions, such as for the Highway Code, which have since been nationally, adopted.
We regret to announce the death of Ma. W. P. CoLts, who for many years represented Simms Motor Units, Ltd., in Leicestershire, Derbyshire, Northamptcmshire, Warwickshire, Worcestershire and Herefordshire.
We also regret to announce the death, on March 24, at the age of 71, of COL. W. A. BRISTOW, the wellknown pioneer concerned with the production of oil by the low-temperaturecarbonization of coal.
NEW ELECTRICAL TEST BENCH AA N electrical test bench, described by the maker as a complete laboratory for full-scale automobile electrical shop service, has been introduced by Crypton Equipment, Ltd., Bridgwater, Somerset.
This apparatus, can be used to test dynamos, magnetos, starter .motors, regulators and distributors, in addition to independent tests such as woutd apply to ignition coils, circuits and so on. Full details can be obtained on application to the maker.
NEW SIMMONDS COMPANIES ANEW private company, Simmonds Aerocessories, Ltd., which has a capital of £250,000, has been formed
• to take over the business and assets of Simmonds Aerocessories (Treforest), 1.td. Another private company, Simmonds Products, Ltd., will acquire the business and assets of Simmonds Products (Treforest), Ltd.