CITY AND SUBURBAN TRAMWAYS COMPANY.

Evening Star, Issue 6819, 5 February 1886, Page 4

CITY AND SUBURBAN TRAMWAYS COMPANY.

The following report for tho year ended November i! 0 will he presented at the general meeting of shareholders on Monday :

The traffic on the cars lias increased very fairly during the last year, the receipts from fares showing an increase of L1,2(19 l:),s sd. The advertising on cars has also been a very good source of revenue, the net receipts from this being L 520 3s lid. During the year your directors have had some considerable repairs and renewals to effect to the roads in Smith Dunedin and Cavcrsham. The lino along Cargill road was lifted and re-laid with rails of a heavier section, and the levels of several of the other wore also raised. These repairs and renewals cost about L 1,200, and the working expenses have thereby been raised somewhat above those of last year. The increase has been L 578 3s (id, but as the extraordinary expenditure referred to was 1A,200, the actual cost of working the lines has dn' creased. The revenue account shows a credit balance of L 2,750 5s ltd, being an increase over last year of L 1,020 18s 0.1. The profit and loss account shows a debit for the year’s working of Ll4l 15s lid, owing to a largo amount of interest payable on the balance of purchase money; but a considerable portion of the capital having been called up and paid since last meeting, the itum of interest will in next balance-sheet be largely reduced. The number of passengers carried during the year was 1,700,038 ; the aveiagc fare per passenger being 2.77 d, and the average expense per passongir 2.47(1, Considerable time and attention lias been given hy your directors to the (juoition of cheaper traction power, and, after correspondence with makers of gas-motors, com-

in ! Til fur, ami iJher tiamway uuhoit, V.>;ii- <!illfin i have decided Upon middle; mi i .|ii i inu iil, with mi elcctiii; car, and I ill I, ill' l:i il 11 :I ■ cf a Cl'llpfe nf iii.'intln U) limi' mu' running. Should I,hi,; jiii.v.- a film- ami work ns cheaply an lli« liinl:.'r:i aiiHri|iaii', a great savin'; iu tlio coat of haulage "'ill ulf imately In- eU’ccfed. Tin; direetuis have made an advantagenmi purchase of tlia huildings at tin' rnriii'i' i.f Mansi' and Stalfnril streets, and have snli let tlio lowin' pm lion, retainin';' tlio upper Ilimv fur ollices mnl moms for conductors. Four diiTctors have laid under consideration the question of disposal of the 1.10,000 remission granted on the jmrehasennmey, and rceoirunend that the items now .standing at tlio debit of tiic profit and loss account he written oil, alter winch balance he deducted from the item of concessions and goodwill, leaving the Mime at 1/11,02 llsld ; and this tho directors propose shall he written ml in equal sums annually during the term the cniije siou from the City Corporation has still to run- namely, over twenty-six years.