Premature Speculation in Motor Omnibus Shares.
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We repeat what we have already written on several occasions—it is too early to speculate in the shares of companies which are operating motor omnibuses. We do not say it is too early to subscribe capital for new companies, but that is a different matter from purchasing in the market at what may prove to be fictitious prices. Nothing. will have more lamentable consequences for evil than an Injudicious wave of anxiety to make money quickly or with feverish haste. The commercial advantages of mechanical road transport for passengers are undoubted, but we deprecate most severely any effort to bring personal gain to the few at the cost of a sacrifice of public confidence in the motor omnibus movement. It must be remembered that no sufficiently lengthy experience is available, particularly in regard to new undertakings, to justify the payment of a large premium for shares of the kind we have in mind.
The Olympia Show.
There has been only one topic of conversation in commercial motoring circles during the last few weeks, and that has been the exhibition promoted by the Society of Motor Manufacturers and Traders. It is not a little unfortunate, and ceetainly a matter for regret, that a large number of heavy vehicle builders cannot possibly be accommodated with space as matters now stand. The building at Olympia is at no appreciable disadvantage compared with any other building in London in respect of the site, whilst any difficulty arising from its location will be eliminated by the rapidly-improving facilities for quick travelling which are being brought about from month to month in London. An adequate service of motor omnibuses, for example, might rehabilitate even the Crystal Palace in popular favour, though we do not regard that particular supposition as within the range of practical politics. The question which will force itself upon the various interests concerned, almost immediately, is how to provide the necessary space for the commercial section of the industry at any exhibition. The arguments for and against a separation of the two sections are about equal. Many visitors to any show of a dual character, whose attendance is secured by reason of their attraction for one of the two principal branches of the industry which we now see combined under one roof, find themselves unconsciously interested in the other. This fact admittedly must carry weight with those who are able to command good space at Olympia, but what about the manufacturers who confine their production to commercial types? Again, how can the available ground space at Olympia be turned to account so as to give fair representation to the commercial motor? If adequate room is provided in the gangways next year, and a change from the present small widths is almost imperative, the difficulty will be greater still. It is almost impossible to move about with comfort in many of the avenues, as thousands will have experienced for themselves this week on more days than one.
The future is beset with much uncertainty, but the case for an entirely separate exhibition, .limited to machines constructed for utility purposes, becomes stronger as we consider it. We do not say that these types should, as a condition precedent, be rigorously excluded from the annual November Show : neither do we see why it should be other than a matter of free choice for each constructor. There is the widest divergence of opinion amongst British manufacturers of commercial motors as to the relative values of a mixed and an exclusive show ; but we are convinced that any dictation which seeks to interfere with a natural development, and necessarily one whose lines of distinct growth will be increasingly apparent before another twelve months elapses, would be inimical to the best interests of the home manufacturer. There is no doubt that the atmosphere of a show at which pleasure and touring machines form a preponderating section is one which does not, of its own accord, draw large contracting and haulage interests generally. It is perfectly clear, in addition, that it is possible to count on one's fingers the salesmen in this country who possess the necessary knowledge and tact to conduct sales for the two branches—pleasure and commercial—at the same time. We are convinced that a representative national exhibition for commercial motors will, at no distant date, command ample support, without in any way detracting from the success of the Olympia Show as we know it to-day, and members of the trade have in their hands the organisation and experience to give effect to the proposals we have outlined.
The President of the Society of Motor Manufacturers and Traders, at the inaugural luncheon held on Friday last in connection with the Olympia Exhibition, stated that there was no present intention of holding a separate show for commercial motors, and he added that, as a matter of fact, there was no possibility of securing the building for such a purpose next Spring. This indicates that the question of a separate commercial exhibition will be allowed to stand over for the present, but we think not for long.