Motorbus
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There is a possibility that. " K.P.L." motorbuses may serve Weymouth.
The new offices of W. A. Stevens, Ltd., are at 26, Victoria Sire.et, Westminster.
There is increased opposition to the proposed new tramway for Hag ley Road, Birmingham.
Rhyl Urban District Council is thinking about inviting tenders for the provision of a motorbus service for the town and district.
A steam u motorbus has recently been timea by the police to travel at the rate of 27 m.p.h. in Rye Lane. Peckham.
A Daimler " K,P,L." motorbus was presented to the Birmingham Licensing Committee on Monday last. A three-months licence was granted, with permission to start work to-day (Thursday).
The municipality of Uruguay has placed orders for six motorbuses of the latest type. Two are to be German, two French and two by J. and E. Hall, Ltd., of Dartford.
A Recent Registration.
The T.A.N. Motorbus Syndicate, Ltd., with a capital of £2,500, to carry on the business of dealers in motorbuses and to run services, etc. A private company with offices at, The Repository, Bridge Street, Andover, Hants.
A Yorkshire Provincial.
The new Commercial Car Hirers service between Dewsbury and Wakefield has shortened the travelling time between those two towns by nearly 50 per cent. Previously it was necessary to travel over a circuitous tramway route.
The L.G.O.C. has initiated a number of reduction in fares Units services, notably on those running to Cricklewood, Golder's Green, and Kilburn. Halfpenny stages are now in operation between Cricklewood and Marble Arch.
Our Berlin correspondent writes that, while the L.G.O.C. has sold all its horses, the Berliner Jtllge n em Out nibus-Gesellsehaft is superseding its own equine stock by mules. The first of t hese has already been put into service. Our correspondent humorously adds : " Should the company elect to establish and work a line of goat chaises, I will forward particulars."
Drapers Want Splashguards.
The Drapers Chamber of Trade, which claims to represent the retail-drapery interests of the United Kingdom, objects to the mud which, it is stated, motorbuses throw on to the windows of its members' shops. It is also claimed by this association that valuable plate-glass windows are frequently damaged owing to vibration caused by the weight of these machines. A circular letter on the subject has been issued by this organization.
L.G.O.C. Report and Accounts.
The report of the directors, and their audited statements of accounts, for consideration at the 52nd annual general meeting of the proprietors of the London General Omnibus Co., Ltd., at 12 o'clock on Friday, the 13th inst., are pleasant reading in comparison with those for preceding troublous years. It will be a mistake, however, if the shareholders imagine that they are yet "out of the wood." for the recovery is of itself sufficient to encourage competition ; furthermore, realization of the company's discarded chassis has yet to be completed, and the directors may be faced with a larger amount. of writing down, in respect of them, than they at the moment anticipate. Subject to those two points, we congratulate them unreservedly upon the manner in which they have steered the company to a dividendearning and prosperous condition in severely-competitive times. We proceed, now, briefly, to quote the more-important figures for the year ended the 30th September last, and to give the corresponding figures for the preceding year in parentheses.
CAPITAL. Ordinary stock, 21,2)10.696 (21.036.592) ; preference shares, 2391,6S0 (332.000); Vanguard purchase account, included above (R119.497) ; total of ordinary stock and preference shares, 21.592.376 (21.488,089) ; debts and liabilities (debentures and debenture stock). £674.050 (£654,050).
OTHER LIABTLETTES.-Sundry creditors, 2161,825 (294,407); general reserve fund, 2114,525 (2107,20 ; leases sinking fund, now disappeared on being charged to revenue account (£12,315); profit and loss account, 2197,097 (261,136); contingent liability qn leases indemnity fund, 25,000 (25,000).
ASSETS. Freehold land and buildings. 2367,160 (2314,431); leaseholds. 2524,112 (519,008); motor and horse omnibuses, horses, harness and yard stock, etc., 21,034,259 (2958,365); plant, machinery. stores and motor omnibuses in course of construction, 2418.174 (297,700); unexpired value of licences and insurances, 24,476 (L3,946); sundry debts due to the company. 259,655 (74,421): cash and investments, 2332,037 (2249,369).
INCOME AND EXPENDITURE ACCOUNT.-General expenses of administration, 267,657 (259,260); drivers' and conductors' wages, 2389,269 (&368,667); road expenses including licences, superintendence, ticket service, omnibus lighting, fuel, lubrication. compensation and law charges in connection therewith. £311,352 (247.762); horsekeepers' wages and yard and garage expenses, 247.120 (£85,355) ; rollingstock, tires. harness and yard-stock maintenance. 1553,554 (64O,734inclusive of loss on realization of horses and horsebuses) ; provender. shoeing and veterinary services. 259,619 (21.77.584) ; premises, furniture and fixtures maintenance,
215,882 (217,683); depreciation on motor-omnibus account, 295,579, (not shown); loss on realization of assets of the horse-omnibus business, 2135,586 (not shown, but estimated by THE COMMERCIAL MOTOR to have been at least 2100,000); special depreciation on leases, 211,323 (part of general reserve); carried to. profit and loss account, £213,568. (2125,133). General receipts, including traffic receipts, private hire and hire of horses, etc., £1,852,511 (£1,675,924) ; sales of manure, 2573. (21,142); advertising receipts, 237,429 (240,111).
It is difficult to follow why the advertisement receipts are down, but. that is a detail.
The balance at credit of revenue account, 2213.568, is swelled by 215,888, due to interest and dividends on investments, whilst 261,136 is brought in from the last account. On deduction of the dividend paid to the 1st July, 1910, in respect of arrears on preferenceshares, amounting to 245,700, of interest on debentures and debenture stocks, amounting to 229,703, and of the dividend on the preference shares at the 1st January and the 1st July, 1911. amounting together to £18,092, the directors have 2197,097 at their disposal. They recommend, as we have already reported, the payment of a dividend on the ordinary stock at the rate of 8 per cent. per annum, free of income tax, which will absorb 296,056, and to carry forward the balance of 2101,041.
The strength of the company's present position is obviously due to decreases in the traffic and maintenance charges, and to considerable increases in the value of its stock in trade. We shall deal further with its prospects. after we have heard the Chairman's speech at the annual general meeting, and that will be in our issue of the 21st inst.