GOODWILL VALUE IN TRANSPORT

Press, Volume LXXXII, Issue 24906, 20 June 1946, Page 4

GOODWILL VALUE IN TRANSPORT

VIEWS OF LICENSING

AUTHORITY Since goodwill in the sale of a transport business was concerned more with the actual operation of trucks than land or vehicles, it was the practice in Dunedin to allow the Transport Licens;o determine the amount, said Mr S. V. Raines, No, 3 Transport Licensing Authority, when a case came before him m which approval of goodwill had yet to be obtained from the Land Sales Committee. Where proP er ty „ was involved, the transaction naturally came under the Land Sales Committee, but in his experience the Licensing Authority’s estimate of goodwill was usually accepted, Mr Haines said.

The case concerned the transfer of continuous goods licences from Transport (North Canterbury). Ltd.. Rangiora. to Oxford Transport, Ltd., Oxford Full argument was heard on May 29 when the approval of the authority was withheld pending completion of the sale of shares. The-authority said that since I. H. Langford and his brothers, who had former; the Oxford company, were sons of the former Licensing Authority for the district, he had taken special precaution, to see that no suggestions of unfairness could be made about the proceedings . T J?. e transfers were approved, subject to the Land Sales Court passing the property sale, decision being reserved about one route sought. Decision was reserved on an application by the Ellesmere Transport Company, Leeston, for four additional vehicle authorities for goods or stock transport to the Dunsandel, Hakaia, and Ellesmere railway stations, to the Addington saleyards, to district freezing works, and to shows. The authority indicated that if the application included nothing more than was in the licences held by the company some years ago. they would be approved. On review, the goods service licence of Henry Lucas Montgomery, Southbridge, was allowed to stand, after evidence had been given of satisfactory service being given. That of Barr and Gorman, Doyleston, was revoked on evidence that the licence had not been operated on.

A suspension on the goods licence of A. P. W. Coull, Papanui during his service in the Army, was lifted, and he was granted permission to carry goods on his way to and home from his main contract with New Zealand Iron and Steel Company. Ltd, J. Buller. St. Albans, was granted a continuous goods licence for Christchurch city and suburbs, replacing a horse-drawn vehicle licence.