TAXI CAB LOSSES

Evening Post, Volume CX, Issue 38, 13 August 1930, Page 14

TAXI CAB LOSSES

Yellow. Cabs of Australia, Ltd., reports tosses of £8309 on. working and £2500 on realisation of assets. These losses, totalling £10,809,12s 2d, together with the amount of £5000, which stood to the debit of the Eoyal '. Blue and De Luxe realisation account, and which the directors resolved should be written out of the accounts, absorb £15,809 12s 2d of the credit balance of £16,382 8s Bd, which was carried forward in the profit and loss account from last year. The amount left, and which is carried forward, is now £572 I6a 6d. The depreciation provided and charged in the accounts for the year amounts to £39,644 12s 9d, of. which £35,---576 2s 7d was written, off cabs, cars, trucks, and taximeters (exclusive of tires on cabs, batteries, cab outfits, and drivers' uniforms), and £4268 10s 2d off garage and workshop equipment, office furniture, etc. The company proposes to convert a numbers, of its smaller cabs into trucks and after: them for sale at attractive prices. Losses on operating are attributed to dull times. The' fleet is still intact and continues to give "splendid service." The balance-sheet is described as showing the company to be "in a strong financial position." :■■■■'

Fully paid capital is £300,914; general veserves, £25,500; sundry liabilities, £5320; profit and loss £572. Assets include cash £967y Government securities £38,820, fixed (bank) deposits' £6000, mortgage £7283, freehold's (at cost) £129,016, cabs, cars, £110,143, after allowing for all depreciation, tires and tubes, batteries, uniforms; £10,170; materials and supplies, £15,043.