Sheffield Daily Telegraph – Tuesday 01 January 1929
Trams to be Abolished.
Trackless Cars For Use In Mexborough District.
Company’s New Bill.
The Mexborough and Swinton Tramways Company have deposited a Bill in the Private Bill Office of the House of Commons for introduction into Parliament this session.
The preamble sets out that the company have completed or are about to complete, the conversion of their system of tramways into trolley vehicle routes and have constructed, or are authorised to construct, other systems of trolley Mexborough, Swinton, Rawmarsh, Conisborough, Bolton-on-Dearnc, Adwick this-on-Dearne.
In connection with the substitution of trolley vehicle equipment for the tramways originally construct by them it is estimated that the total cost when completed, will amount to over £53,000 in addition to which the company have expended over £43.000 on the equipment of vehicle services on routes other than o n which the tramways of the company were originally constructed.
It is therefore declared expedient to enact provisions for the protection the company against reasonable competition on the routes of the trolley vehicles system, including a route in Rotherham, on which a service provided jointly by the company and the Corporation.
Power Over Routes.
The Bill, which comprises 42 clauses, proposes that after the passing of this Act, the Company shall be deemed to incorporated for road transport services, and shall be known as “The Mexborough and Swinton Traction Undertaking.” By clause 6 power is sought to run buses;
- Along the routes of the existing tram the existing and authorised trolley vehicle rule.
- The trolley vehicle route in Rotherham.
- Any route in Mexborough, Swinton, Rawmarsh, Greasborough, Conisborough, or Bolton on Dearne, or the Parish of Adwick, (other than the existing routes), but subject to .consent of the local road authority.
- Any other route with the consent of the Ministry of Transport and the local road authority.
Under clause 14, which covers nearly three pages of the Bill, provision is made to restrict the running of buses in competition with the company’s services, so long as the services adequately meet the requirements of the district.
Power is given to the local authorities, clause 15, to purchase the undertaking on December 31st, 1957, or at the expiration of any tenth year from that date.
On January 1st, 1930, the existing Ordinary issued capital, amounting to £175,800, at present divided into 35,160 Ordinary shares each, is to be convened into 52,740 Ordinary shares of £1 each, thus reducing the existing issued capital by £123,060.
Power is next sought to raise additional capital to the extent of £122,260, and to borrow on the reduced capital a sum not exceeding £58,600, which “shall be in substitution for, and not in addition talk” the existing borrowing powers.
After the company have raised additional capital under this Act to the amount of £58,600 they may borrow further sums not exceeding one half of the amount of the additional capital raised over and above the amount of £56,600.