WANGANUI FINANCES
RATE OF 5s lid IN POUND, HEAVY LOSS ON TRAMS. Wanganui, July 15. At a special meeting of the Wanganui City Council this evening recommendations of the Tramway Committee w-ere adopted, thereby bringing into effect curtailment of the tram services by about 25 per cent., with a view to effecting economics. It had been estimated that the general rate would have to carry a cui’rent year’s loss of £4OOO on the trams,, .exclusive of interest and sinking fund charges of £16,000 paid annually out of. the general rate. The cut,, will materially reduce the anticipated loss of £4OOO. By finalising the matter of the trams, the council is able to fix the rate fbr the current year at 2s 6d in the pound on the general account and 3s 5d for interest and sinking fund and special rates, making a total of 5s lid. A motion to strike the rate, was carried.
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Bibliographic details
Taranaki Daily News, 17 July 1929, Page 11
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154WANGANUI FINANCES Taranaki Daily News, 17 July 1929, Page 11
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