Insurance Premiums 12.1 Per Cent. Up
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A NOTHER burden will be placed on the road transport industry on June 1. On that date insurance premiums for all classes of motor vehicle, except agricultural machines, will rise generally by I21, per cent.
This decision has been reached after discussions which have been taking place for several months. The tariff companies' premiums will rise by 121 per cent. and those of the independent non-tariff companies are almost certain to be increased correspondingly. Some insurers consider the increase to be inadequate. They claim that the companies cannot make ends meet because of the high repair costs which they have to pay, and the greater claims that third parties make for compensation for iniury.
B.T.C. FACES £65m. LOSS
AT the present level of charges. the British Transport Commission will have an accumulated deficit of £65m. at the end of this year. •Mr. Alfred Barnes, Minister of Transport, said in the House of Commons last week, that this year's loss was estimated at £25m. About £19m. of this amount was on account of increases in wages, and the remainder resulted from rises in other costs, At the end of last year the accumulated deficit was £40m.
The B.T.C. has proposed to the Minister that rail freight charges, parcels rates, and dock and canal charges shall be raised by 10 per cent. This change is estimated to yield £20m. in a full year.
It is not yet known whether the Transport Tribunal will insist upon considering the Commission's proposal at a public inquiry. The Federation of British Industries is strongly opposed to an increase in rates.
5,000 EXHIBITS IN MOBILE FESTIVAL SHOW
THE travelling exhibition which will visit Manchester, Leeds, Birmingham and Nottingham during the Festival of Britain will be carried entirely on maximum-capacity vehicles. This is to reduce time and effort required in dismantling, loading and transport, only 21 days being allowed between showings for moving from one town to another.
The exhibition fittings and 5,000 exhibits will be carried. These include a railway observation coach and some gas-turbine engines. One display will trace the development of passenger road transport.
BARTON BUILDS OWN VEHICLES
THE first of 20 passenger vehicles. completely designed and built by Barton Transport, Ltd., has recently been put into service. The new vehicles will be described in " The Commercial Motor" next week.
NEW SEDDON COMPANY
I T is announced that Seddon Diesel
Vehicles, Ltd., has been registered with an initial capital of £100 in 6 per cent. £1 cumulative preference shares and Is. ordinary shares.