AUCKLAND TRANSPORT BOARD
HIGH EXCHANGE COSTS
[PER 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 end ed March 31, of the Auckland Transport Board, which was presented at the annual meeting of the Board. There were large increases in both revenue and expenditure, and £20,036 was paid as currency exchange. The Chairman (Hon. H. G. R. Mason) said that 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 the payment of interest. £112,111, Sinking Fund, £25.532, and other payments, there was a. deficit of £16.187. This deficit excluded the sum of £4.042 payable by way of redemption of a portion of th? Board’s loan indebtedness. The report reviewed the position regarding the Board's liability to pay in sterling interest on 5 per cent, and 5} per cent. London domiciled debentures of the Auckland City Tramwav Loan. 1919 (£1.250.000), and mentioned that an appeal would be made to the Privy Council.
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Greymouth Evening Star, 16 June 1936, Page 5
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186AUCKLAND TRANSPORT BOARD Greymouth Evening Star, 16 June 1936, Page 5
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