LOWER REVENUE

Manawatu Standard, Volume LIII, Issue 7, 6 December 1932, Page 8

LOWER REVENUE

CITY’S GAS AND ELECTRICITY. HALF-YEAR'S FIG URF.S. “Figures for the half-year ended September SO show that, . compared with the corresponding period _of last year, the revenue is £lbi / less,’, stated the electrical engineer (Mr JTV. Aluir) in a report submitted to the Palmerston .North City Council last evening. . , “This is accounted for by the tact that last year the first, tirreo months revenuo was at the old rates l>eforo the 10 per cent, reduction in charges was made. The net profit is i-1110 less than last year and I put tins down to the same cause. “The capital expenditure out of revenue for the half-year was £o--H • Last vear for the same period it was £5267', plus £2IOO used m repayment of a loan, and £250 earthquake relief donation, making a total expenditure under these headings of £<oy, being £4377 in excess of tins haltvear's figures. Submitting a half-yearly statement for the gas department, the manager (Mr Muir) stated that the expenditure for the half-year ended September ,!0 last was £19.332. compared with £lB.272 for the corresponding period of the previous vear. Revenue for the six months of this year had amounted to £1591. showing a loss of £341. The loss on the vear ended March 31 last had been £703. The loss for the half-year so far was less than the estlriate it having been anticipated that £9OO would have to lie transferred from the electricity account to cover the deficit on the year's operations.