RESOLUTION AGAINST NEW WAGES INCREASE
Page 20
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AT a meeting of the Northampton Sub-Area of A.R.O., held on August 20, a resolution was passed to the effect that the meeting viewed with the utmost concern the recommendation of the Central Wages Board for the new increases in the basic rate of wages for transport drivers and the addition to the statutory allowance for subsistence. The meeting is of the opinion that there are no circumsta,nces to justify these increases, and it recommends that the Area Boards should strongly oppose these further demands.
Mr. A. W. Darby presided, and, incidentally, was congratulated upon his .election as chairman of the Association's National Haulier Sectional Board.
RATIONALIZATION OF MILK TRANSPORT
THE A.R.O. wishes to make it clear that the statement on milk haulage, which we published last week, was not issued by that Association only, but emanated from-the Conference of Milk Carriers, to which reference was made in the statement. This Conference and the committees which have been set up from it, are fully representative of all the associations concerned. It is also interesting to note that the Conference is keeping in close touch with the C-licence interests.
THE DIVISION OF TILLING AND BRITISH AUTOMOBILE TRACTION
ANOTICE has been issued to the shareholders of Tilling and British Automobile Traction, Ltd., concerning the division of the company into two new concerns, B.E.T. Omnibus Ser. vices, Ltd., and Tilling Motor Services, Ltd., each of which has been formed to acquire half of the company's undertaking. Reference to this scheme has already been made.
The capital of each will consist of the Same number of shares as the company's present capital, but of half the nominal amount, viz., 200,000 10 per cent, cumulative preference shares of 10s. each and 4,000,000 ordinary shares of 10s. each.
'Each company will acquire the original company's ordinary shares in about half of the operating concerns. The remaining assets will be acquired by the two companies in equal shares. Every shareholder will be entitled to have issued to him a fully paid 10 per cent, cumulative preference share of 10s. in each of the two companies for every 8 per cent, similar share of £1 which he holds, and one fully paid ordinary share of 10s. in each of the . two concerns for every ordinary' share of £1 which he holds.
Shareholders. not desiring to concur in the reconstruction scheme can realize their sliares for cash at a definite -figure which the controlling concerns confider to be their fair price.
The directors of B.E.T. Omnibus Services, Ltd., are Messrs: R. J. Howley, S. E. Garcke, J. S. Wills and R. W. Birch; of Tilling Motor Services, Ltd., Sir J. F. Heaton andMessrs.. A. R. Wagg and W. Wolseley.