CITY AND SUBURBAN TRAMWAYS.

Otago Daily Times, Issue 9323, 14 January 1892, Page 2

CITY AND SUBURBAN TRAMWAYS.

The directors of theDunedin City and Suburban Tramways Company (Limited), in their report for the year ended ',50th November 1891, regret that the result of the year's working has not been more satisfactory. The traffic receipts for _the year were considerably below those of the previous year. This was in great measure attributable to' the fact that the exhibition was open for several mouths in the early.part of 1890, and materially enhanced the receipts for that year.' The total receipts for the year were L19.223 5s lOd, and the expenditure LI6,OSD Mis, leaving a profit on the working of L2233 Us lOd. This does not quite pay the year's interest, and the profit and loss account shows a debit balance of Ll3 2s lid. The number of passengers carried during the year has been 2,722,073, whilst 3,358,459 were carried the previous year. The average fare per passenger was l't>2d. The haulage contract expired in December last, and the directors are pleased to state that they have entered into a new contract at a reduced rate per car mile, and they anticipate that the saving in haulage will make a great difference in the next balance sheet. By the new contract the cars are running slightly quicker, nnd, with the alteration recently mado of stopping only at street corners, a considerable saving of time is effected on each journey, the-result being that the- public is bettor served and the company are decided gainers by the change.