BUS LOSSES

Sun (Auckland), Volume II, Issue 604, 5 March 1929, Page 15

BUS LOSSES

BIRKENHEAD TRANSPORT DISSENTION AT MEETING The Marine Suburbs Bus Company, Limited, reports a loss of £2,053 in last year’s operations. This information was given last evening at the fourth annual meeting of the company. Mr. \V. Wallace, chairman of directors, presided over about 50 shareholders. In moving the adoption of the balance-sheet and report the chairman referred to the company’s losses and said that owing to the action of the local body in licensing motor-cars to -run as omnibuses the shareholders had approved of the company's bus services being suspended. This was carried into effect from February 28, 1925. The directors wrote jointly with the Blue Star Company asking the Birkenhead Borough Council to guarantee that they would not license taxis to run as omnibuses, but the council continued to license all and sundry vehicles. The balance-sheet for the y ear ended October 31, 1925. showed a loss of £2.085 14s Id. This was approved, but exception was taken to several proposals in the report. Ond of these was that the directors, after consideration were unanimously of the opinion that the company's operations should cease, and the assets be realised as early as possible. They therefore recommend the shareholders approve the following resolutions: (1) That as Birkenhead Borough Council some time ago decided to grant licences to practically all classes of motor driven passenger vehicles to ply within the borough, and the council still continues to carry out that line of licensing policy, it is imperative in the best interests of the company to discontinue all operations.

(2) That the buses and any plant o»supplies not required in connection with the garage work be realised as soon U 3 possible. (3) That the garage and land attached be sold when favourable opportunity for sale occurs. The price and terms of sale to be fixed by the directors when a would-bc buyer desires to negotiate. Mr. T. Smith, one of the directors, moved an amendment, which was seconded by Mr. R. Taylor, that the report be not received. Mr. Smith stated that the directors were not unanimous in these resolutions. Mr. Taylor, another director, stated that he had not seen the report until after it was printed. Mr. R. Barlow and Mr. Julian Brooks spoke in favour of the amendment. After discussion the meeting agreed to take each proposal separately, the above-mentioned proposals being defeated. It was decided to increase the directorate from five to seven. The retiring directors, Messrs. T. Smith and R. Taylor offered themselves for re-elec-tion, the other nominations being Messrs. W. EL Paterson, Cl. Grey Campbell and A. Foster.

In a ballot Messrs. Taylor, Smith, Paterson and Campbell were elected. The following resolutions were then carried: That the directors be asked to forego all claims to directors’ fees until the company is again in a position to justify payment; and that the new board of directors be asked to pledge itself to investigate fully the passenger transport position in Birkenhead, and after the municipal elections to endeavour to arrange a conference with the Birkenhead Borough Council, the various bus companies and three or four capable men not financially interested in the buses and living in different parts of the borough ; that no steps be taken to dispose of the Sanford bus or the garage property until after the above conference has been held or without the consent of the shareholders. Mr. E. J. F. Kennedy was re-elected auditor. After the shareholders’ meeting the directors re-appointed Mr. W. Wallace as chairman.