INCREASED DEFICIT.

Manawatu Standard, Volume LVI, Issue 170, 19 June 1936, Page 13

INCREASED DEFICIT.

AUCKLAND TRANSPORT BOARD. Rer Press Association. AUCKLAND, June 15. A deficit of £16,187, compared with a deficit of £8351 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. There were large increases in both revenue and expenditure, and £30,036 was paid as currency exchange. The chairman (Hon. H. G. R. Mason) said the total revenue for the vear, £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 of interest £112,111, sinking fund £25,532 and other payments there was a deficit of £16,187. This deficit included a sum of £4042 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 the. 5J per cent. London-domicled debentures of the Auckland City Tramway Loan, 1919 (£1,250,000), and mentioned than an appeal would he made to the Privy Council.