TRANSPORT BOARD

Press, Volume LXXXIX, Issue 27073, 23 June 1953, Page 11

TRANSPORT BOARD

Rates Reduced This Year

DECREASE OF £9OOO ™'Hl c J Christ S hurch Transport Board day il . reduced the rates it will i e 2Z „ tor the ye ?r ending next March, fixing a general rate of .0507740 d in the £ and a special rate of .3467077 d in tne £. Mr F. I. Brandt, the chairman, said that on £lOOO of capital value this year s rate would be about £1 13s Id, compared with £1 17s 6d last year.

Traffic revenue lor the year was to . s , how .an increase of *.io,uuu, he said, while other revenue was estimated to be reduced by £17,000. Operating expenses would be cut by approximately £12,600, and £9OO0 tal Tate reduction was about

.We look forward to the future with confidence,” said Mr Brandt, after congratulating the officers of the Ooa j believe the citizens are proud of their new fleet of buses and welcome the change from trams.” . . -Referring to an increase of £15,000 m the sinking fund. Mr C. C. Holland remarked that the board not only had to run a service, but had to meet charges on a service which was now defunct. ‘‘We can take some pride in the fact that we are reducing rates when other local bodies are increasing theirs,” he said. “We are not yet entirely satisfied, but I feel this Ys the first step in an improvement to be made in the future.” Yield from Rates The capital valuation of the bqard’s district, it was reported, was £74,573,480. The general rate would produce £15,439, and the special rates for interest and sinking fund £105,424. With an estimated £490,361 from revenue, that would meet the £611,224 estimated expenditure. Details of the estimated expenditure were:—traffic expenses, £265,418, repairs and maintenance of permanent way, overhead, rolling stock and buildings, £111,631; power, £50,645; g „ e 2?£ al expenses, £55,334; interest, £30,339; sinking fund, £75,095; fire and accident reserve. £5574; renewals, £17,188.

REVENUE INCREASE LAST MONTH

Net earnings of the Christchurch Transport Board in the four weeks’ period ended on May 24 increased by £653 over the corresponding period last year to £36,931, but when standing charges of £10,244 (an increase of £745) were made the deficiency amounted to £B6OB, an increase of £92 over last year. The board’s deficiency so far. this year reached £16,435, which was £1262 less than last year.

Traffic revenue increased by £2357 to £36,976. The percentage of decline in passengers was the lowest since fares were increased last October. Other revenue increased by £259. Operating expenses increased by £1963, increases being recorded in all items except traffic expenses, which were £l4 less.

Passengers decreased by 114,680 to 1,802,269, and mileage covered by 4785 to 302,112.