NO RATING.

Auckland Star, Volume LXVI, Issue 130, 4 June 1935, Page 8

NO RATING.

TRANSPORT BOARD.

ANNUAL ACCOUNTS REVIEWED ;ash position satisfactory "Notwithstanding the huge reduction in our revenue, at no stage lias there been aii3 r fear of the undertaking coming on the rates," said the chairman of the Auckland Transport Board,' Mr. J. A. C. Allum, at the resumed annual meeting this morning, when, in reviewing the annual accounts, he amplified the general statement he had made at last Wednesday's meeting. ilr. Allum said that the board had suffered a general reduction in business owing to the depression, while nt the same time sections had been adjusted with the opening of new extensions, making the farce much lower in the aggregate. Although there had been a nominal deficit of £8351, the decrease in revenue had been met by reduction in eoats. The yeara 1D33 and 1034 had been the moat difficult in the history of the board. The year just closed had shown a slight improvement. The deficit for the previous year was £15,705. This year's deficit wae inflated by £3452 for the repayment of a loan, the money being taken from the actual revenue of the undertaking. Interest payments had amounted to £114,103, while £15,401 had been contributed to the sinking funds. The deficiency could be wiped out by a stroke of the pen, ae it represented book entries, such as depreciation and writings off. Th<* board was paying £3000 a yoar by way of subsidy to a superannuation scheme.

Restoration of Cut. Owing to the economic considerations the board, was unable to restore onehalf of tho first 10 per cent cut in wages and salaries when there was a general restoration in the Government service early in 1934. That restoration, however, was made as from February 2, 1935, and resulted in an additional expenditure of approximately £13,000 per annum. The employment situation was etill moet unsatisfactory, and the position was reflected in the volume of receipts. In that connection the board suffered in a dual way; first, by the reduction in the number of artisans at work; and secondly, by the issue to relief workers of tickets providing for travol at considerably reduced rates. The board had. continued, its policy of purchasing practically all its supplies locally, and further, in every possible case, of local manufacture. Wages and Salaries. Wages and salaries paid during the year totalled £200,544. The cost of electricity was £01,803, the price having been reduced in accordance with the terms of the 1 agreement with the Auckland Electric Power Board; to \7839d per unit. Rates totalling' £7347 were paid to: various local bodies in the board's district, and of that amount it was interesting to note that £5262 was paid on the valuation of the tracks and overhead lines, notwithstanding that practiaally one-third of the roadways through wh,ioh the tram lines ran waa maintained|by the boaVcl at its expense, without eojGamensurato *benefits to the board's trtfhiway system. The board considered that it-was justly entitled to a share of the petrol tax, such share to be baeed on the area of highway concerned, due weight being given to the class of traffic carried.

"The board realises it has a, duty to the travelling , public, to its staff, and to the ratepayers, and consequently every endeavour to maintain a proper balance between these, interests is made," con* eluded the chairman. "Nothing is to bo gained by drastic action, and there is no cause whatever for alarm so long ag the cash position remains satisfactory. As previously mentioned, the revenue is holding Up and there is definite indication that bottom was touched some months ago."