AUCKLAND'S TRAMWAYS.

Auckland Star, Volume XLI, Issue 133, 7 June 1910, Page 7

AUCKLAND'S TRAMWAYS.

(From Our Special I u-respondent.) LONDON, April 20. The Auckland Electric Tramways Company have had a prosperous year, judging by their annual report, issued this week. There is a profit of £35,124 on the year's working, and the dividend for the year is six per cent. The total revenue for the year ended December 31, 100!), was £182,594 8/3. The traffic receipts, which amounted to £ISO,:SSfi 15/11, show a satisfactory increase of £11i.03S 14/2 over the previous

After deducting all expenses chargeable to revenue, including £1(i,454. 13/S for debenture interest, the rental and percentage of profits payable to the Auckland City Council amounting to £3902 10/11, and setting aside £15,000, compared with £12,500 last year, to the depreciation account, tliere is a surplus of £3.5.124 1/1, making, with.£392o 7/8, the balance brought forward from the previous year, a total of £39.044 S/il. During'the year £3385 five per cent first mortgage debenture stock was bought and cancelled under the operation of the sinking fund, reducing the amount outstanding at December 31 to £329.002. The stock was purchased at a premium, which has been charged direct to the profit and loss account.

The capital expenditure during the year amounted to £50,001 7/4. The largest portion was in connection with an extension of the power house plant and distribution system, which was initiated during the year. An extension of 0.(55 of a mile in the Grey Lynn district, which is now approaching completion, was commenced, and five additional cars were purchased. At the request of the Auckland City

Council the company has agreed to construct along Upper Queen-street, the main thoroughfare in the city, an extension of about half a mile. An extension of 0.775 in the Mt. Albert road district to Morning=ide station has also been agreed to. Further suggested extensions of the system have been placed before tho board, and are receiving careful consideration.

In addition to the five cars added to the rolling slock during tho year, eight further cars have been ordered, and are under construction, bringing the total up to one hundred.