The Motor Omnibus World.
Page 5
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The Dunlop Rubber Company, Limi.. ted, has presented a petition for the compulsory liquidation of the Vanguard Motorbus Company, Limited, and the hearing is set down for the 7th proximo.
Motorbus Records.
This week's issue does not contain au example of our fortnightly census of Greater London's motorbuses, with comparative figures for the years 1906 and 1907. A set of these exclusive figures was published last week, and the next set will be published on the 9th April.
Belfast Devel\opments. Following the recent lecture before the Belfast Chamber cf Commerce, several new services are likely to be inaugurated this summer. One of these, from Belfast to Portaferry, will be undertaken by J. B. Ferguson, Limited, with Argyll vehicles, whilst we have private information that a well-known gentleman who attended the lecture in question has purchesed three chars-hbanes for use in another district, particulars of which he does not wish to transpire at the moment.
Skidling.
In the King's Bench Division, before Mr. Justice Ridley and a special jury, last week, judgment was entered against the Vanguard Motorbus Cornpany, Limited, in an action brought by the City of London Electric Lighting Company, for L43 odd in respect of damage to an electric standard lamp, on a refuge, at the junction of Throgmorton Street and Old Broad Street, which occurred on the 15th June last. The jury, notwithstanding their verdict for the plaintiff company, found that the vehicles were properly constructed, and were not a legal nuisance, but that sufficient supervision had not been exercised by the driver. A second
claim, for odd, failed, and Mr. Avory, K.C., applied for a stay of execution in respect of the adverse decision quoted.
Road Traction Engineers.
The report of the Society of Road Traction Engineers, as printed for presentation to members on Tuesday the 31st March, deals briefly with the work of the Soeiety's past session. Papers were read, during the year 5907, by Messrs. Hart and Durtnall ; Mr. W. Worbv Beaumont, M.Inst.C.E. ; Mr. Dugald Clerk, M.Inst.C.E.; and Mr. NV. E. Hardy, A.M.T.Mech.E., of Bath. It is pointed out that the cost of the lubrication research laboratory, at Putney, caused a considerable drain upon the Society's funds, and an adverse bal_ ance of 4-44 is shown for the year. As the subscriptions to this society are now approximately -,,c,250 per annum, and as a considerable accession of men.bership is expected under the Council s new scheme, which incl _Ides associateship with the Royal Automobile Club, this temporary loss should be quickly adjusted. Particulars of membership may be had from the secretary, Mr. C. E. Esse, t, Albemarle Street, W. The Renewals Reserve. 17a111 Apropos the L,C.C. audit, we quote from official returns certain figures which will assist comparisons between London and a few important municipal tramway systems :--London, capital, £6,736,737; depreciation renewal, and reserve funds,_ ..141,855. Liverpool, Z1,9°1,997 and ."238,354, respectively. Manchester, ..1,725,845, and. 320,028, respectively. Glasgow, ,3,104,061, and 122,104, respectively.
Road Car Meeting.
Our comments upon, and extracts from, the report of the London Road Car Company, Limited, for the halt year ended the 31st December last, appeared in our issue of the igth March (page 34 ante). The Chairman, Mr. J. Howard Moore, when presiding at the half-yearly meeting, on the 24th March, explained that the details of the amalgamation scheme with the Great Eastern London Motor Omnibus Company, Limited, were not yet avalable for publication. Several of the shareholders complimented the Board on its not failing to present accounts, bad as they were. As to the running of the company's motorbuses, it appears that only 1,891 stop notices had been served on them—out of a total of 8,5oo for the whole Metropolis—during 1907. Mr. Moore also explained certain difficulties in connection w:th the etttering into an arrangement with the London General Omnibus Company. He remarked that, notwithstanding several attempts, they had not been able to over...on-1e these difficulties,
L.G.O. and Vanguard.
Mr. Samuel Wheeler, chairman of the Vanguard Motorbus Company, and
chairman-designate of the suspend _d new regime, as set out in the agreement between the Boards of the two companies, has taken action in refer ence to an application which was made for the appointment of Sr Alfred New ton and Mr. Clarence Freeland, the managing director of the Vanguard Company, as receivers and managers of the company. The letter, af er an introductory paragraph, reads : " With reference to Sir Alfred NewtOn's state ment that the debenture-sock holders, with practical unanimity, rejected the provisional contract, it is important to
observe that the bard were in possession of proxies amounting to L118,88o, against ,118,750 held by Sir Alfred Newton.
" The fact that Mr. Freeland had, unknown to his colleagues, before the meeting, agreed to act as receiver in the event of the debenture-stock holders rejecting the proposal, took the direc
tors by surprise, because, throughout the negotiations for amalgamation with the London General Company, he had been in complete accord with his colleagues.
"We are glad now to find that Mr. Freeland states that h's affidavit was made under a misapprehens:on, and he has accordingly informed Sir Alfred Newton that he dissociates himself from the application to the Court. He also states that the circular of the 21st instant, was sent out without his knowledge or consent.
" The board will strenuously oopose this attempt on the part cf Sir Alfred
Newton to take possessioa cf the com
pany's undertaking and assets before any default under the trust deed has
been committed by the company. It
may be satisfactory to the debenturestock holders to know that they will receive their interest on April i next in the usual way if no receiver is appointed. It should be remembered in connection with the proposed amalgama tion that the annual receipts of the two
companies amount, upon present figures, to over ,e4": I ,5oo,o3o, and that a sum of less than ,.30,000 will be required to
meet the interest on all the debentures at present intended to be issued by the London General Company under the amalgamation scheme, including .4715o,000 of the second debentures."
We do not exactly follow how the opposing sides claim to hold an aggre
gate of proxies amounting to £237,630, seeing that the total of the debenture issue, out of an authorised issue of -,C-oo ono, amounts to only ,igg,o5o. There evidently has been some over
lapping or miscalculation, but it cannot be denied that the general body of de benture holders was antagonistic to the scheme. It is impossible to give publicity to any of the rumours and
reports which are floating about, but there is ample evidence to hand that the Vanguard services will not be allowed to disappear from the streets.