LONDON TRAM LOSSES.
OMNIBUS COMPETITION
. LONDON, . April 7. A serious "position in tile finances of the London County Council ' tramway system was revealed at- a. meeting of the Council by Mr.B. C. Norman, chairman of the Finance Committee, in Ills annual financial statement.
# For the first time, he -said, the-Coun-cil's tramways luid . not provided, enough money required for the. redemption, of ■debt; The result was. that. £91,705 would have to be taken, from the reserve, which would then > amount to £187,000, This year, it was estimated there would-be a. deficiency of £46,000.' which ! would J also hare, to come, out of the reserve. Neithor, this year nor last was- there any tiling for renewals I These results, it was pointed out, were | In the mam duo toHhe competition of the motor-omnibuses. Trailer tramwaycars and lower .-fares., had. not produced much improvement in tIW financial position. Tramways in Greater LpAdon were suffering; so wej-6 I^he railways, and a demand had arisen for contributions from the , omnibuses towards road maintenance.
"It seema likely," eaid Mr Norman, "that what we must look for in the future is. some limitation in competition In this public service."
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Bibliographic details
Poverty Bay Herald, Volume XLI, Issue 13394, 30 May 1914, Page 10
Word Count
192LONDON TRAM LOSSES. Poverty Bay Herald, Volume XLI, Issue 13394, 30 May 1914, Page 10
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