Shareholders Put the Screw on B.E.T.
Page 4
If you've noticed an error in this article please click here to report it so we can fix it.
SOME of the shareholders in the British Electric Traction Co., Ltd.. appear to be applying pressure to the directors to sell out to the British Transport Commission, Commission, although Mr. H. C. Drayton, chairman of the company. declared in Newcastle-upon-Tyne lastMarch that he would fight nationalization "to the last wheel."
Mr. L. G. Harris, A.S.A.A., who is believed to have bought shares in R.F.T. in March, 1948, is one of the prime movers. In a letter to "The Financial Times" on Tuesday, he was supported by 'Mr. J. P. Alderson, of Four Oaks.
who wrote:— • ".We shareholders have not invested in B.E.T. Deferred for the purpose of being used to support the political views of the directors, and these are not the times to flout the terms offered by the Government, which are far more generous than those given to electricity, gas, etc. If once lost they will never be repeated."
"The Commercial Motor" believes that Mr. Drayton took steps to ascertain the views of the staff of B.E.T. before he made his statement in Newcastle. and that the employees of the organization showed that they stood solidly behind him.
23 TAKEN OVER IN FIVE DAYS TWENTY-THREE haulage businesses were acquired by the British Transport Commission between June 26 and June 30. They are as follows:— A. Cousins, Sible Hedingham: Aitken (Unit B.95), Stockbridge, Linlithgow: Whitions (Unit F 86). Cullompion: Atkinson (Unit 1).139/, Ferry Hill; Swift (Unit E.112), Cannock; Celine Valley (Unit F.94), Fide; Milton's (Unit F.96), Cullommon: T. and B. Road Services, Ltd., High Wycombe. E. E. Gurney, High Wycombe: Williams (Unit 6.71), Whitchurch; East Devon Tpt. (Unit F.95), Sidmouth; Godfrey (Unit H.105), Swavesey; L. F. Wright and Co., Maidstone; Athetsmith (Unit C.133). Ulverston: H. Viney and Co., Ltd., Preston: Lancashire Petrol Deliveries, Ltd, Preston; McKechnie and Buchan (Unit RAM, Elgin; British Road Services (Unit 1).143), west Hartlepool; Moncktnn TM. (Unit A:116). Yalding: British Road Services (Unit E.108), Ditherington: Riddock (Unit L.108), Dufftown; British Road Services (Unit E.87). South.
ampton; Cowen and Co., Glasgow, C.2. •
WORRIES OVER COAL HAULAGE
PROBLEMS associated with the transport of open-cast coal are agitating hauliers in the Wigan area who have formed themselves into a sub-area of the North Western (Western) Area of the Road Haulage Association. •It is hoped to negotiate rates. The sub-area secretary is Mr. A. E. Jones, of Heath Road, Ashton-inMakerfield; and the chairman, Mr. W. E. Ball, of Gathurst.
ELEVEN TO ONE IN APPEAL
ELEVEN respondents, including the. Railway Executi:ve, will be lined up against Messrs. Joseph Grant when their appeal against a decision of the Scottish Licensing Authority, is heard by the Appeal Tribunal at the Scottish Lar.J Court. Edinburgh. on July 20, Mr. N. •L. Macaskie, K.C., the new chairman of the Tribunal, will preside. This will be the second case with which he has had to deal.
A28