MUNICIPAL VENTURES.

Lyttelton Times, Volume CXXIII, Issue 15920, 4 May 1912, Page 9

MUNICIPAL VENTURES.

TEAMS AND LIGHTING. WELLINGTON'S EXPERIENCE. [From Our Correspondent.] WELLINGTON, May 3. Having regard to the accepted policy of providing, its services at bedrock prices with little eye to'profits, the experience of the Wellington' Corporation with its tramway and electric lighting concerns last year was satisfactory. The balance-sheet of the city tramways department for the twelve months ended March 31 shows a surplus on working of £2220, as compared with £6225 for the preceding twelve months. For the year just ended appropriations for capital expenditure have absorbed the working surplus and an additional sum, which leaves a debit balance of £824. On the balance-sheet for the year 191011 a credit balance of £1069 was carried forward. The appropriations for 1911-12 include a sum of £3660, which was spent during the year in the''conversion .of cars, construction of loops and other works that might have .been made, a charge on capital. The capital expenditure on' tho tramways is £704,667, and although.last year owing to capital expenditure out of revenue a debit is shown, the profits since tho tramways were inaugurated stand at £14,340. The depreciation fund amounts to £87,560, including. ; .sot. aside, during, the year. Suburban extensions have not been lucrative, a loss of £8366 being shown on the* latest' enterprise, the Wadestown tramway. ..•■.-. ' ; The electric lighting department's income went up by £6OOO last, year, and its operations resulted in a credit balance of .£6283 being carried to the bal-ance-sheet. The surplus from the ...net i revenue account was £8933, comi pared with £4345 for the year 1910-11; Appropriations' in : 1911-12 totalled £2654 and in 1910-11, £4032. .. The 1 credit balance transferred to the bal-ance-sheet on March 31, 1911, was £313. an amount exceeded for the year •just ended by nearly £6000.'