AUCKLAND TRANSPORT BOARD
LAST YEAR'S DEFICIENCY DOUBLED STERLING INTEREST ON LOAN APPEAL TO PRIVY COUNCIL PENDING [Pm United Press Association.] AUCKLAND, June 15. A deficit of £16,187, compared with a deficit of £8,351 last year, is shown in the balance sheet for the year ended March 31 of the Auckland Transport Board, which was presented at the annual meeting of the board to-day. There were large increases in both revenue and expenditure. The sum of £20,036 was paid as currency exchange. The chairman (the Hon. H. G. R. Mason), the Attorney-General, said the total revenue for the year, £544,824, was an increase of £22,139 over the previous year. The year’s expenses _at £561,010 showed an increase of £29,974. After payment l of interest (£112,111), sinking fund (£25,532). and other payments there was a deficit of £16,187. This deficit included the sum of £4,042 payable by way of redemption of portion of the board’s loan indebtedness. The report reviewed the position regarding the board’s liability to pay in sterling the interest on the 5 per cent, and 5i per cent. London domiciled debentures of the Auckland city tramway loan of 1919 (£1,250,000), and mentioned that an appeal would be made to the Privy Council.
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Evening Star, Issue 22366, 16 June 1936, Page 5
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203AUCKLAND TRANSPORT BOARD Evening Star, Issue 22366, 16 June 1936, Page 5
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