AUCKLAND ELECTRIC TRAMWAYS.

Evening Star, Issue 12687, 13 June 1907, Page 8

AUCKLAND ELECTRIC TRAMWAYS.

The report of tho Auckland Electric Tramways Company, Limited, for 1906, presented to the meeting held in ‘London on April 7, states that the total revenue for the year amounted to £152,36*, as compared with £122,995 for the previous year. The trafli receipts. Which amounted to £150,356 ; show an increase of £8,457. After deducting all expenses chargeable to revenue, including £14,255 for interest on the debenture stock, and providing ror the rental and percentage of profits payable to tho Auckland Oity Council, amounting to £3,246, and after setting aside £IO,OOO to meet depreciation, there remains a surplus of £33,585, making with the £3,018 brought forward from the previous account an available balance of £36,701. The directors have set aside to reserve fund for general purposes £12,500, and paid a dividend at the rate of 7 per cent, per annum, leaving to be carried forward £3,IKL The account hitherto styled reserve and depreciation account will in future be entitled depreciation account, and will bo used exclusively for the purpose of providing for renewals and depreciation. An arrangement has been made with the Auckland City Council whereby the watering of the streets on which tramways are laid in the city and in certain of the suburban districts will be undertaken by the company. Steps are being taken to obtain the most efficient water sprinklers for the purpose, and it is hoped that they will be available in Auckland in time for the next summer season. Twelve additional cars are to be put on the roads this year, bringing the total up to seventytwo. The Board have decided to take in hand the construction of the extension of about three miles in the Mount Eden road district immediately the necessary powers are obtained. To cope with the demand to be created by the above extensions, and to meet the increased traffic, further plant capable of an output of GOO kilowatts will be installed during the year.-