ROOTES PROFIT HALVED
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CONSOUDATED profits of the Rootes Group for the year ended July 31, were £2,911,652, compared with
£ 5,863,852, for the previous financial year. A dividend of 4% less income tax (12%) is recommended on Ordinary and
" Ordinary shares. •NEW RAIL TERMINAL pRELIMINARY work has started on • the construetion of a I rn. freight
terminal at Gateshead for the British Transport Commission, The new terminal will be a concentration centre for handling less than wagonload freight traffic in the Tyneside industrial area and, on its completion in two years' time, the depot will provide a delivery and collection service within a 15 miles radius.
NATIONALIZATION IN INDIA THE Mysore State Road Transport Corporation in India, successor to the Government Road Transport Department, has begun operating its services in the Hassan area with a fleet of 293 buses, covering an average daily mileage of 22,000.
Marking a further big step towards total nationalization of road transport under the phased scheme it inherited, the corporation's services replaced all' but six of the 105 private operators who were plying 170 buses covering 15,480 miles a day.
The service is not completely monopolistic for the present, as six private operators who had secured an interim order of the Supreme Court have been permitted to operate side by side, pending the disposal of their petitions.