SMALL SURPLUS

Greymouth Evening Star, 16 May 1939, Page 5

SMALL SURPLUS

AUCKLAND TRANSPORT HOARD. [PER PRESS ASSOCIATION. | AUCKLAND. May 15. "While in the hist inflance the I'maiicial responsibility rests on the ratepayers, it. has never yet been necessary for the board! to collect a rate, anti if the undertaking is prudently directed, I can see no necessity for such action in fntiire," said the retiring chairman of the Auckland Transport Board (Hon. 11. G. R. Mason) at the annual meeting. Outlining the accounts for the year ended March .11, he said the result of the year's working was a surplus of £lB2l. "While this surplus is small, it. is arrived at after making all interest. and sinking fund payments, and providing for all other charges l which should properly be met out of the

! board’s revenue,” Mr. Mason said. “I do not. think it is the function 1 or desire of the board to make large profits. Its primary object is to render efficient and adequate transport at the lowest possible cost. “Revenue increased by £14.000, and working'’ expenses by £26.000. There was an increase of 2,000,000 in passengers." With the official count for the election held on May .”> uncompleted, the board was unable to carry mil the full agenda, at. its .annual meeting. After the adoption of reports and financial statements, the meeting was adjourned for ;r week when, if the results of the poll have been formally declared, the new board will complete the meeting by electing a chairman and deputy-chairman, and considering the estimates.