'Intense Competition from Private Cars'
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I AST year the North Western Road Car Co. Ltd. paid 1266.000 in fuel tax to the Government, said Mr. R. J. Huy (substituting for the chairman, Mr. T. R. Williams) at the 42nd annual general meeting of the company recently. " To put it more pointedly, this was the amount we collected. from our passengers and handed over to the Government ", he said.
When, last November,,the Chancellor added 6d. a gallon to the rate Of this tax, he acknowledged the "special problems facing the bus operators by exempting them (in effect) from the extra 6d. in respect of their stage carriage services, said Mr: Fliery.
Competition from the private car had become even more intense, and passenger carryings on the company's stage carriage services fell last year by some 5m.—a drop of 6 per cent. Unofficial one-day strikes by the road staff had contributed to the fall. Patronage of express services, on the other band, had been generally encouraging. passenger carryings on the extended services to T.ondon via M6, introduced last year. being particularly good. New 'direct seasonal services had been introduced between Manchester and Barmouth •and. jointly with Yorkshire. Woollen District Transport Co., between Bradford and Pwllheli.
On the financial side. Mr. Ellery reported that last March 000.000 of She company's reserves had been converted into permanent capital. Net profit was marginally better than that of the previous year.
Mr. Eller}, made reference to the Government's Finance Bill and said that if the provisions in the Bill 'as I understand them " had applied to the year ended on March 31 fast, and assuming a 40 per cent rate of corporation tax, it would have cost the company an extra .C50,000 to E60.000 in tax.•
During last year, North .Western replaced 53 older vehicles with new ones. at a cost of some £310,000; on order for this and the following year were .another 90 new vehicles. In total, said Mr. Ellery, outlay on new rolling stock in three years would not he at short of