MUNICIPAL TRADING

Evening Star, Issue 20314, 24 October 1929, Page 3

MUNICIPAL TRADING

HALF-YEARLY FIGURES BEFORE COUNCIL ■" AH ANXIOUS AND DIFFICULT TIME " "Wo all realise that the last six months have been an extraordinarily anxious and difficult time for the trading concerns," said Cr Clark in presenting to the City Council last night the statement of the net jwofits of the trading departments for the half-year ended September 30. The statement showed that the total net profits for the period amounted to £48,471, this being an increase of £2 ; 049 on the profits for the corresponding half-year of 1928. The figures presented by Gr Clark were as follows, those for the corresponding period of 1928 being given for comparative purposes:—

-Decrease, flncrease. JLoss. Cr Clark said the Water Department had had to contend with a disastrous flood, which had resulted in very Heavy expenditure, the total of which was not yet Known. iPor the Gas Department the period, through various causes, had als- been difficult, and the coal question, which had occasioned some anxiety, had made a dilference to the returns The profits were very satisfactory as far as the Electric Power and Lighting Committee was concerned, hut it was well to remember that the trading departments were not run altogether us commercial propositions. I'Jiey were 'run for the good of the city, and if, for instance, the Tramway* Department excluded lines which were not paying', it would make verylarge profits. Tno benefit of the capital expenditure ol the Gas and Electric Power ana Lighting Committees would be seen later on in the snapo of increased profits. the co.nmittee's report was adopted.

1929. 1928. Dept. Six months. Six months. Water . ... £8,847 £11.559 • £2,712 Gas 4,737 6,873 *2,13G Ji.P. and L. ... 31,082 25,257 tS>825 City trains ... 2,501 2,440 f61 Mornington ... 1,679 548 '-1,131 Koslyn 13 294 *28l IjUfCS 1391 J 533