TRAM AND BUS LOSSES

New Zealand Herald, Volume LXX, Issue 21469, 18 April 1933, Page 10

TRAM AND BUS LOSSES

TRANSPORT IN WELLINGTON TOTAL DEFICIT OF £12,591 ft According to the report of the general manager of the Wellington Tramways and Electricity Department, submitted at last week's meeting of tho City Council, tho combined result of tram and bus operations for the year just passed shows that tho total revenue was down by £28,298 and tho total expenditure and charges were less than last year by £25,448. The not result was a debit balanco of £12,.591, as against £9683 in tho previous year. The Electricity Department earnod £322,018, a decrease of £12,469, leaving a credit balance of £16,119. The tramway revenue amounted to £352,032, a decreaso of £26,609 as compared with tho previous year. After providing for tho full capital charges,. including renewal and reserve funds, there was a debit balance of £4330. The bus receipts amounted to £12,264, or £1689 less than tho previous year. Tho amount of depreciation charged last year against revenue was £4240, which, added to the interest earned by the bus depreciation fund during tho year, was equivalent to 12 per cent on the original cost of the buses. Ibis left a debit balance on the year's operation of £8261. LOSSES IN CHRISTCHURCH. YEAR'S DEBIT OF £18,6.\!6 Deficiencies of £22,549 in the accounts for trams and trackless trams, and of £l6ll in the accounts for petrol buses are shown by the financial statement of the Cliristehurdi Tramway Board for the year ended March 31. Included in the first figure mentioned is £5524, which was tho balance of the deficiency from the previous year.