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'Most operators have no desire t have their fortunes told in publi(

9th August 1963, Page 72
9th August 1963
Page 72
Page 72, 9th August 1963 — 'Most operators have no desire t have their fortunes told in publi(
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Which of the following most accurately describes the problem?

JANUS

WRITES

" OING public" is an expression much more in use than formerly among hauliers. . A comparatively small but growing number of them have put themselves in the market place, and others are thinking of following their example. They "go public" in more senses than one, for statutory requirements include making known to all and sundry their precise financial position and an inventory of the assets. Whatever may happen in some other industries, in road haulage this is still something of a novelty. Most operators have no inclination to have their fortunes told in public. Some seem reluctant even to give any information about their activities.

An inveterate attender of traffic courts might in the process of time build up a picture of the financial standing of hauliers. Unladen weights of vehicles have to be set out with some exactness, and applications are often supported by tables showing the tonnage carried, the revenue earned and the amount of traffic sub-contracted. Perhaps somewhere or other an indefatigable analyst is assembling the information thus made available about individual operators. If so, he is likely to be on the nationalized side of the transport industry, and the results of his labours may never see the light of day.

The less-assiduous inquirer may be content with what the newspapers throw up in the ordinary course of their activities. If he is at all curious, he cannot fail to have examined closely the lengthy announcement made to commemorate the granting of permission for a London quotation to United Carriers Ltd. The company has been formed by the amalgamation of the Willis Group and the K. and D. Group, established carriers who, one reads, carry "all forms of general merchandise in the form of packaged goods in parcels ranging from 4 lb. to 4 cwt.", but do not engage in general haulage work.

79 A LICENCES The companies making up the group have premises in Northants, Glasgow, Bradford, Bristol and London. They have 79 A licences, three Contract A licences and nine B licences. with a total carrying capacity of 520 tons. The fleet is said to be "slightly in excess of the number of licences ", thus enabling the work to be carried on without interruption for maintenance, servicing and repairs. The staff number 160, considerably more than the stock of vehicles, as might be expected with a firm of express carriers. Combined profits of the two groups, after director's emoluments, were no more than £458 in 1954, but have increased rapidly to a figure of £77,555 in 1963. Estimated profit for the current year ending on January 31, 1964, is £100,000, of which a little more than half would be paid to the Treasury.

The impression is of a prosperous and progressive undertaking. It would be interesting to know whether the figures are representative of road hauliers, at any rate of smalls' carriers, as a whole, or if United Carriers is in any way unusual. In the closed world of finance a handful of public carriers stand for the whole of the industry, and the announcements made by these companies from time to a 1 6 time are widely accepted as tpe voice of road haulage, tack of statements from any other source. What the Re Haulage Association has to say is given more prominen but the public retains a sneaking predilection for the woi of the individual operator, who is thought to be nearer the grass roots.

Generally speaking, the company chairmen's repo] when they touch on political subjects, conform with 1 official policy of the R.H.A. On renationalization, William Duthie, chairman, Tayforth Ltd., was unexceptic able at the recent annual general meeting. "I cannot any result ", he said, "other than less-efficient service the customer and an increase in costs which as a country cannot afford." Sir William was following much the sat line as Mr. Philip Henman, of the Transport Developm( Group, who said in his earlier report: "It is aim incredible that it should still be thought efficient co-ordir tion of a diverse industry like transport can be accomplish with such a blunt instrument ".

SHORT-HAULAGE NOT AFFECTED

Mr. Henman added the reminder that nationalizati between 1947 and 1953 did not affect short-distance hai age, certain types of contract hire and other specializ operations. Many of the concerns in his group, he point out, fell into these categories, and would therefore unaffected if the pattern of nationalization were to repeated ". The point is seldom stressed by hauliers general, who suspect that interference with their indust by a Labour Government will have a somewhat wid effect than Mr. Henman suggests.

Inevitably, a company chairman must feel it a duty his shareholders to draw attention to the facts which a favourable. The financial commentators also tend to vic events mainly from the point of view of profit and la An article in the "Stock Exchange Gazette ", for examp. implies that the larger hauliers are " relieved " at the rece unofficial statement of the Labour Party's intentions. T reason for their relief is said to be the rumour of increas. taxation on C licence holders. This would "force firr carrying their own goods to think of shifting the bur& to the specialized haulage companies ".

This may be the public attitude of certain public cot panics. Most hauliers are not so optimistic as to suppo that they would be allowed to take much advantage of ai restriction on the trader's right to carry his own gooc The main target of the Labour Party is the long-distan traffic, which they would like by some means or other force on to the railways or, failing that, to B.R.S. TI "Stock Exchange Gazette" goes on to say that the lar, road haulage groups are not afraid of B.R.S. competitio "They claim to outclass the nationalized concern t deliveries of important materials and parts because th. unload at the right time, several times a day." In any cat it is said, the new business in prospect should leave som thing for all. Cheering news perhaps for investors, b somehow not convincing as a reflection of Labour Par policy.


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