TRAMWAYS AND BUSES.

Otago Witness, Issue 3782, 7 September 1926, Page 28

TRAMWAYS AND BUSES.

OPERATIONS IN AUCKLAND. AUCKLAND. September 2. Separate accounts for tramways and buses operated by the Auckland City Tramways for the year ended March 31, 1926, were presented to the City Council to-night. They showed that, without allowing for depreciation, there was a loss on the buses of £18,767, while the tramways made a profit of 15,232. The receipts in respect of the buses are shown at £30,895, of which £21,425 was cash takings and £9470 is allowed for concession tickets. The traffic expenses a .ounted to 33,907, including £9588 for petrol and £5627 for water, oil, light, and stores. Repairs and maintenance cost £B9IO, while administrative expenses are charged at £2717. The working expenses, therefore, exceeded the revenue by £14,639, the loss being increased by £3175, representing 5 per cent, interest, and £953, representing li per cent, sinking fund on the loans of £63,500. The total estimated loss is £18,767 8s 4d. The financial results of the tramways are also shown in detail. The revenue, £562,183, exceeded the working expenses (£433,704) by £128,479. Against the latter are charged:—lnterest, £75,795; sinking fund, £33,952; discount on loans, £1500; and accident fund, £2000; leaving a net profit of 15,232 16s sd.