TRANSPORT BOARD YEAR

New Zealand Herald, Volume LXXI, Issue 21807, 23 May 1934, Page 10

TRANSPORT BOARD YEAR

The preliminary review of the Auckland Transport Board's year that is published to-day confirms the impression formed when the estimates were framed, that the revenue position was stabilising itself at the low level to which it had fallen. Taking all circumstances into consideration the result must be regarded as satisfactory. The year ends with a deficit of £15.757. That for which the board budgeted was £9582. The total income was £525,385, of which traffic receipts accounted for £513,581, the estimates being £526.750 and £519.000. This is the third successive year that losses have been recorded. After the small profit of £2448 in 1930-31 there was a deficit of £18.318 the following year and of £10.931 the next. For the current year the estimated deficiency is £11,634. The position, however, would have been materially worse and the outlook much more doubtful but for the economies effected and the easement of interest charges within New Zealand. The board failed in its effort to secure a similar reduction upon its debts domiciled in Britain, and short of eliminating such a service as that of Victoria Avenue and of making staff retrenchments, it now has a very limited field in which' to further extend economies. As the chairman pointed out the board has its duty to the travelling public, to its staff and to the ratepayers, and between these interests it must maintain a proper balance. Even in face of another estimated deficit the times do not warrant any drastic action. Certainly it would be unwise to raise fares, if for no other reason than that a diminishing return would probably be the result. As to staff retrenchment, the community would be loth to see any men displaced, not simply from the standpoint of the good neighbour, but also from that of the citizen who, in spite of the stern economic pressure that still prevails, can discern signs of improvement in the general condition of trade. The exports for the year to date have substantially increased in value, and imports are slowly rising. Impending tariff changes probably limit present purchasing, but the figures recorded are definite evidence of returning confidence and business revival. Thus there is sound reason for the belief that the bottom point of the depression has been passed and that in the coming year the Transport Board at least will hold its ground.