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" Public Payin

1st January 1954, Page 34
1st January 1954
Page 34
Page 34, 1st January 1954 — " Public Payin
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Which of the following most accurately describes the problem?

g Themselves" ASTATEMENT that because United Welsh Services, Ltd., were owned by the British Transport Commission, the public were being asked to pay increased fares to themselves, was made by Mr. A. Davies, representing 11 West Wales local authorities, at the resumed hearing at Swansea, this week, of appeals against the granting of fare increases last March by the South Wales Licensing Authority.

Mr. Davies submitted that fuller information about the company's resources should have been given. He said it was nonsense to suggest that last March a director could not reveal what was in the balance sheet for the previous financial year.

United Welsh, said Mr. Davies, had taken over the services of Swan and Richmond, and the payment made for those companies' vehicles and goodwill could not be gleaned at the original Bearing.

Mr. M. Evans, for Swansea Carporadon, said the increased revenue of £55,000 a year which. was desired would only swell, the company's profits, as they had never suffered .a loss.

"We feel that the matter was already decided in the mind of the Licensing Authority before the evidence in the application was. called," he said. That conclusion was supported by the terms of the decisMn itself, which "does not contain a single reference to a single A32 argument or figure put forward on behalf of the objectors."

Mr. Evans said that the £55,000 increased revenue equalled a return of slightly over 20 per cent. on the company's capital of £261,000, but the B.T.C. paid only 3 per cent. for the capital raised to buy the company.

Only the managing director, had given evidence, and this was "littered with inaccurate statements" with regard to the financial position of the company.


HOLDERS of 91.5 per cent, of the ordinary stock and 85.8 per cent. of the preference stock of E. G. Brown and Co., Ltd., have accepted the offer made by Singer and Friedlander, Ltd. The offer was 5s. 6d, in cash for each 5s. unit of preference stock, and for each 2s. unit of ordinary stock 4s. 6d. in cash and 3s. nominal amount of shares in a new company formed to take over the business of E. G. Brown.

OXFORD BAN POSTPONED rIXFORD has decided not to ban, for k.or the time being, the loading and unloading of goods vehicles in the streets during certain periods of the day. The corporation have told the National ROO-Transport Federation. that they are waiting to ascertain whether oneway traffic working is to be permanent.

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