AUCKLAND TRAMWAYS.

Evening Post, Volume LXVII, Issue 149, 24 June 1904, Page 5

AUCKLAND TRAMWAYS.

STATEMENT OF ACCOUNTS. [BT TBLEORArn— ITIES3 ASSOCIATION ] AUCKLAND, 23rd June. An important suggestion was made by the Mayor at tho meeting of tho City Council to-night as to llio Council's shara of the Tramway Company's profits. The matter arose through a letter from tho company giving a statement of tho .accounts for the year ended 31st December last. So far ( as regards the company's operations within the city limits tho amount of tho receipts nnd expenses had been based on the car mileage run within tho city, viz., 948,539 miles. Tho mileage without the city was 369,930, making a total of 1,318,169 miles. The Council was entitled to 5 per cent, on net annual profits up to and 10 per cent, on tho pronto in e^ceas of that turn. The amount available for distribution for the year was £22,630, and the percentage duo to tho Council woh £2013, a chequo for which was enclosed. The Mayor moved r — ''That tho chequo be received without, prejudice lo tho Council's rights or In the audit now proceeding, and that tlie statement of the Tramways Company bo referred to the Financo and Legal Committee for consideration, and a roporb a^ to what should be donef with the money. lie said ho felt that this money not being properly spcukins the revenue of the city, they should endeavour to v. Bill.passed through Parliament to enable them to tio up tho money funn this source for tho creation of a fund wilh which to purchase tho trams at the end of tho term. it was mcuiioned in tlu> course of the discussion which followed that the Council would probibly havo at the end of the company's term a sum amounting «o £200,000. After discussion, tho Mayor's motion wii3 carried.