SYDNEY HARBOUR BRIDGE

Taranaki Daily News, 11 September 1934, Page 8

SYDNEY HARBOUR BRIDGE

LAST YEARS BALANCE-SHEET. LOSS OF “ONLY £135,000” INCURRED. Although there is no call for rejoicing over the fact that the Sydney Harbour Bridge lost “only £135,000” during the last financial year, the news evokes expressions of satisfaction, says the Sydney correspondent of the Argus. What appeals to the imagination of even those who cannot wear the bright badge of optimism is that there is an improvement of £22,000 over the previous year. _ They consider the position to be reassuring. If the loss is reduced by £20,000 or £30,000 a year, not very many years will pass before the great undertaking is paying its way. The correspondent says: “With interest rates falling there may be a substantial reduction of the annual expenditure on interest and exchange, about £360,000 a year. The financial situation of the bridge is not alarming. Some of the residues of the resumptions associated with the approaches have yet to be sold. This clearing up will not reduce the liability substantially, but it will be welcomed as helpful. The Sydney City Council and the North Sydney Council lost much revenue by the building of the bridge owing to the demolition of hundreds of houses, and their consequent disappearance from the rate book.