MUNICIPAL TRADING.

Auckland Star, Volume XLIII, Issue 107, 4 May 1912, Page 11

MUNICIPAL TRADING.

TRAMS AND ELECTRICITY. (By Telegraph.—Own Correspondent.) WELLINGTON, this day. Having regard to the accepted policy of providing its services at bedrock prices with little eye to profits, the experience of the Wellington Corporation with its tramway and electric lighting concerns last year was satisfactory. The balancesheet of the city tramway department for the 12 months ended March 31, 1912, shows a surplus on working of £2220, as compared with £6225 on the preceding 12 months. For the year just ended appropriations for capital expenditure have absorbed the working surplus and an additional sum, which leaves a debit balance of £2824 on the balance-sheet for the year 1910-1911. A credit balance of £1069 was carried to the balance-sheet appropriations for 1011-1912, and included a sum of £3660, which was spent during the year in the conversion of cars, construction of loops, and other works that might have been made a charge on capital. The capital expenditure on the tramways is £704.667. and, although last year, owing to capital expenditure out of revenue, a debit is shown, the profits since the tramways were inaugurated stand at £14,340. The depreciation fund amour-ted to £87.-560. including £15,455 set aside during the yc.r. Suburban extensions have not been lucrative, a loss of £836 being shown on the latest enterprisethe Wadestown tramway. Tbe electric lighting department's income went up by £6000 last year, and* its operations resulted in a credit balance of £6283 being carried to the balancesheet. The surplus from the net revenue account was £8938, as compared with £4345 for the year 1910-1911. Appropriations in 1911-1912 totalled £2654. and in 1910-1911 £4032. The credit balance transferred to the balance-sheet on March 31, 1911, was £313. an amount exceeded for the year just ended by nearly £6000.