AUCKLAND FERRY CHARGES.
COMPANY'S BIG PROFITS.
(Per Press Association.) AUCKLAND, last night. There has been a further development of the dispute between the Harbor Board and the Devonport Ferry Company. The Board recently raised its charge to tiie Ferry Company for tho use of wharves to what represented a fair return for the money invested in the wharves devoted to the ferry traffic. The company has now announced that, in consequence, there will be a proportionate increase in the cost of concession tickets.
Discussing the position to-day, Mr J. H. Gunson (chairman of the Harbor Hoard) said that the Board had the right to say what fares should be charged, although it could not force the companv to issue concession tickets, and it would iiot allow the company to exercise its monopoly of the ferry services to the disadvantage of the public. The company's business was so profitable that its shares were quoted at 50 per cent, above the nominal value, and it paid large dividends and' carried large amounts to reserves. The company could afford to. pay tho extra wharfage charge, and if it attempted to pass it on to the public, the Board would take the necessary action.
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Bibliographic details
Poverty Bay Herald, Volume XLII, Issue 13602, 6 February 1915, Page 7
Word Count
200AUCKLAND FERRY CHARGES. Poverty Bay Herald, Volume XLII, Issue 13602, 6 February 1915, Page 7
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