"NORTHERN GENERAL" BUYS TYNESIDE CO.
Page 54
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KIEGOTIATIONS have, it is under1 N stood, been completed, at Newcastle-on-Tyne, for the taking over by the Northern General Transport Co., Ltd., of the shares and mortgages 9f the Tyneside Tramways and Trarnroads Co., which operates buses between Newcastle and North Shields.
It is reported that the " Northern " bought the company's ordinary shares at £3 Sr. each, preference shares at £10 each and mortgages at par.
MORE CLAIMS HEARD.
CLAIMS against the Board by London independent bus proprietors, whose businesses have been taken over by London Transport, were considered, last week, by the London Passenger Transport Arbitration Tribunal. The consideration to be paid to Robert Hawkins and Co. was £19,250, to Messrs. Convey and Clayton, £7,800, Triumph Omnibus Co., £8,000, and
B40 Messrs. Fiikins and Ainsworth, £6,850.
The Tribunal decided a point of principle in the case of the Red Rover Omnibus Co., which had agreed with the Board for a total consideration of £9,200 and had taken £4,500 in cash on account. The company then asked for stock, if not for the whole amount, at any rate for the balance.
The Tribunal found that there was a distinct difference between the claims of the Renown and Red Rover concerns, because the former elected to take cash and received payment on account, after making that choice.
DISPUTE SETTLEMENT COMING?
ALTHOUGH the men have not accepted them, it is reported that the United Counties Omnibus Co., Ltd., has decided to make concessions in wages, as from this week, as a means fOr settling the dispute with its workers. The value of the concessions, which are retrospective from January 19, is discredited by the employees.