WHEELS of INDUSTRY
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"The wheels of wealth will be slowed by all difficulties of transport, at whatever points arising, as a carriage is by the roughness of the roads over which it runs."—John Beattie Crozier.
IMPORT AND EXPORT RETURNS FOR JANUARY.
The Board of Trade returns for January last show that the value of commercial vehicles, cars, chassis and accessories imported was £327,944, as compared with £183,113 in January, 1934, and £152,543 in the same month of 1933. The increase is mainly due to a heavy influx of American and Canadian cars.
In the same month 195 complete commercial vehicles were exported, their value being £41,958, the comparable returns for .1934 being 201 vehicles, of a value of £40,683. Exports of commercial chassis again make an excellent showing, the increase being general, with the exception of Australia, the figures for which show a slight fall. In January last, 1,183 commercial chassis were exported, their value being £166,823. The 1934 figures were 915 vehicles, valued at £113,399; and the 1933 returns 808 vehicles valued at £98,261.
New Chairman for Yorkshire C.M.U.A.
Mr. Joseph Wallis, of Birstall, has been elected chairman of the Northeastern Division of the Commercial 'Motor Users Association, in succession to Mr. G. E. Gilbey, of Wakefield, and he is himself succeeded in the vicechairmanship by Mr. W. Holdsworth, of Leeds. Mr. "Wallis is also chairman of the Yorkshire (Leeds) Centre of the Furniture Warehousemen and Removers Association.
Engaged in the road-transport business since his boyhood, he is head of
• the firm of Messrs. A. Wallis and Son, -haulage and removals contractors, and his family has been concerned with the industry for 80 years. Mr. Wallis has been associated with the C.M.U.A. for about 14 years, and for about half that period he has been a member of the national council.
Thomas Tilling Report: Capital Increase Recommended, The report of Thomas Tilling, Ltd., for the year ended December 31, 1934, shows a profit, after providing for debenture stock and other interest, of £297,416, the amount available, after adding the balance brought in, being £558,808. The preference dividend for the half-year absorbed £8,250, and an interim dividend of is. 6d. per share on the ordinary shares £98,878„ so that the balance to be disposed of is £451,680. The preference dividend for the second halt of " the year takes £8,250, and a final dividend of is. 6d. per share on the ordinary capital (making 15 per cent. for the year) accounts for a further £98,878, leaving a balance of £344,552.
The general reserve fund now • u20 amounts to £824,155, and it is prorased to transfer to this from the balance of the profit-and-loss account £150,000, making a total of £974,155. It is recommended to capitalize this sum and to appropriate from the special capital reserve fund £344,220, making a total of £1,318,375, which it is proposed to distribute as bonus shares to the holders of ordinary shares.
After these appropriations, there will be a balance of £194,552 to carry forward on the profit-and-loss account and a balance in the special capital reserve fund of £1,048,847. In order to make provision for the bonus issue, it is recommended that the nominal capital of the company be increased to £3,000,000 by the creation of 1,250,000 new shares of £1 each. These resolutions will be submitted at the company's annual general meeting to be held on February 27.
Motor Insurance Deposit Adequate?
The President of the Board of Trade has intimated that the Sdequacy of the deposit of £15,000 required of companies transacting motor insurance business, under the Road Traffic Act, 1930, will be reviewed when amending legislation is under consideration.
Forth Road Bridge Progress.
It is believed that the Forth Road Bridge will now become an accomplished fact. Investigations have shown that the site near Port Edgar is satisfactory, and that the cost could be kept around £4,000,000. The Government will pay 75 per cent, of the cost. and the problem is to find the remaining £1,000,000. Edinburgh Town Council is to meet soon to consider what share of the cost it should bear. A STEWART AND ARDERN PROPERTY-HOLDING COMPANY.
A company known as Commercial (Stewart and Ardern) Properties, Ltd., with a share capital of £100,000, has been formed by Stewart and Ardern, Ltd., the well-known distributor of Morris motor vehicles for an extensive area in and around London, to wry on the business of a property-hold:ing company. It is the policy of Stewart and Ardern, Ltd„ to increase the number of showrooms, repair depots and service stations, and the whole of the Properties being acquired are, or will be, occupied by Stewart and Ardern, Ltd., with the exception of factory premises used by the Cunard Motor-and Carriage Co., Ltd., and Morris House, Manchester, occupied by Gordon Stewart Motors, Ltd. • An issue of £200,000 41 per cent. first mortgage debenture stock at par is being made to-day.
Scottish Carriers and Wages Question, It was decided at the first annual meeting of the Scottish Carriers and Haulage Contractors Association, Ltd., on Monday, to remit the question of wages to the employers' representatives on the National Conciliation Board. Mr. J. Aitchison presided.
Mr. I. R. Grove, vice-chairman, in reporting on the position as regards wages, said that no agreement had yet been reached with the employees as to what constituted fair wages and conditions. Ile refuted the suggestions which had been made, that delays in the negotiations had been due to the employers. A meeting of the Conciliation Board will be held on Monday next, February 25.
I.F.S. Tribunal Refuses Classification Schedules, At the sitting of the Railway Tribunal, in Dublin, on February 14, Judge O'Brien, the chairman, ruled Out as invalid the applications by the railway companies, the Grand Canal Co. and the Limerick Steamship Co., for the adoption of schedules for the classification of merchandise for road transport. It was proposed that certain classes of goods should be carried only by special arrangement, whilst other categories should not be carried at all. Judge O'Brien held that, as their licences obliged them to accept almost all classes of merchandise, these proposals clearly could not be upheld: The applicants were given liberty to submit amended applications within a reasonable time. The Tribunal further considered that. there should be an extension of the. time for lodging objections. The hearing was adjourned sine die.