Tramway Finance.

Press, Volume LVIII, Issue 17429, 13 April 1922, Page 6

Tramway Finance.

{t.i* an agreeable surprise to learn from yfo, abatement of the Tramway Board's Tevenue iceount for tbe year that elosed aitbVinpl of last month, that the operations for ,the, twelve months ihow a stfrplns of 1 £6781, as compared with one of only £BB6 in tho previous year. The earnings, advanced from £261,354 to £284,766$ on increase of rather more while the actual operating expenses showed an increase of leas than 40700, from £186,069 to £186,754. From the not earnings of £77,347 hare to, be deducted various amounts, of which £31,169 for interest is the largest, 'amounting altogether to £71,606, compared with £64,001 for the previous ve.gr, Tbe items ''depreciation" and 'HamnUZ' each show on advance of rather more than a thousand pounds in the yeaV, but the greatest increase is in tha*Ktem "interest** which is nearly £SOOO larger than on March 31st last year. Some little improvement in the revenue was to be expected owing to the increase in fares, but we admit frankly that we did not expect tba* the increase would be as large as it has proved to be, and tbe Board is to he 'Congratulated on its evident attempt to exercise economy in some' directions, At thO'Banw time, it is fairly clear that the limit to which the fares can be rafted has very nearly, if not quite, been reached. A-very slight advance on present rates might turn the scale and land the Board'with a deficit at the end of the current year, instead of what, in view of the Board's turnover, must be regarded as a> very small Burplus. It, most not be forgotten that last month "the chairman warned the members of the Board that this year the standing charge* consequent on new loan expenditure would increase the year's expenditure bj £IB,OOO. ft will be very cTifficntt we pftliero, for. tbe Board to take such an additional amount from the .pocket*, of. the tram-using public, 'though, as we said on a previous occasion, w« belief* - that o the adoption of «• isftea^ T e| overlapping sections, by which : a paSNWUftr wouM Pfg -for this.distance M ■■"■; "■"*■ ""'"•* '■"• '- ,

he travelled, whether between the present section stops, or from a point within one section to a point in the next, would prove a means of attracting traffic which, under the present system, is now lost But if the Board wishes to escape a deficit on the year's working, it must, -we are convinced, adopt a cqurse of the strictest economy and must particularly resist the temptation to lay down double tracks and long loops in places where they are not imperatively required. Certain unavoidable charges will, as we have seen, certainly increase this year, and since, as we believe, the public cannot, in the main, afford to pay higher tram fares, which already in some districts constitute an appreciable item in the cost of living, the greater expenditure must be met by greater economy. Under the circumstances, it becomes increasingly satisfactory that the last election for the Board resulted ;n the return of a body of men who haive only the interest of the general public, and not of one section of it, to serve.