NEW PLYMOUTH TRAMWAYS.

Taranaki Herald, Volume LXVII, Issue 16448, 3 June 1919, Page 7

NEW PLYMOUTH TRAMWAYS.

TOWN CLERK’S REPORT. Mr. F. T. Bellringer, town clerk, has submitted to the Borough Council a report together with tabulated comparisons of the above department fqr the year ended March 31 last. This shows that the income amounted to £lOO5l os 6d against £9474 16 9d in 1917 and £10231 18s -Id in 1918, and that the expenditure amounted to £7618 ifes 8d agkinst £6847 Ss lid in 1917 and £8096 16s 3d in 1918. After giving details of the net income and expenditure, Air. Bellringer goes on to say “From the above figures it will he seen that the net loss for the year after allowing for depreciation and re- j newels amounted to £4OOB 6s 4d com- i pared with £4295 3s 7d for the preceding year, a decrease of £286 17s 3d. The actual revenue received, however, was £IBO 12s lOd less than that of the preceding year. This decrease in revenue was due entirely to the influenza epidemic, the tram service being discontinued for approximately three weeks and several weeks elapsing before the traffic became anything like normal again. The revenue from the passenger faros for the months of November and December amounted to £1149, 12s 9d, compared with £1671 3s 2d for the same months of the preceding year showing a direct loss due to the epidemic of £521 10s sd. The loss was oven greater inasmuch as prior to the epidemic the revenue from passenger lares was showing a steady increase each month as compared with the corresponding month of the preceding year. j The reduction in the net loss for the year was therefore not caused by I any increase in revenue but by a decrease in the working expenses of the department. The total working expenses amounted to £7618 15s 5d compared with £8096 16s 3d for the preceding yeai\ a reduction of £478 0s 7d. This reduction was mainly in the fol- • lowing items; — £ s. d. Traffic expenses 212 13 9 General repairs and maintenance 311 1 2 1 Electric power 71 7 10 I 595 2 9 : Less increase in general ex- ; penses 117 22 J 478 0 7 : Analysing still further it will he 1 found that in the traffic expenses the principal reductions were in the following items:—Cleaning, oiling, and sanding cars, tickets and ticket-book, uni- 1 forms and badges. ' Under the head of general repairs and maintenance the principal saving ' was in repair to the permanent way, > the cost being £239 8s Bd, compared with £523 0s Id for the previous year.

GENERAL. After making allowance for the loss Occasioned, by the influenza epidemic, the result of tho year’s working must 1)3 considered as satisfactory and had it not been for the epidemic in question the result would certainly have been much better than could reasonably have been anticipated at the beginning of tho year. In my annual report of March, 1916, the following paragraph appears : “Taking a reasonably optimistic view of these figures in my opinion it would not be safe to anticipate that the revenue will be sufficient to meet all outgoings until at least the fourth year’s running. After the fourth year the revenue should be sufficient to allow some provision to be made for depreciation and to relievo the ratepayers of the payment of anything in the way of special rates in support of tho undertaking.” We have now concluded the third year’s running and there seems every probability that tha above anticipations will be realised. should this prove to be the case tho position may be considered extremely satisfactory more especially when the abnormal conditions which have e/car since obtained arc taken into consideration.

A very practical method of distributing an extra bonus to the stall', says the Bankers’ Magazine for February, has been conceived by the- directrs of the Londn County Westminster and Parr’s Bank. It is proposed to set aside £140,000 out of the past year’s profits for the purpose of a staff bonus of about 10 per cent, on calaries, the same to be paid by the distribution of new fully-paid £1 shares taken at the issue price of 35s per share. In this bonus all members of the staff, both temporary and permanent, will participate, subject to their having been 12 months in the service of the bank on December 3.lst last, receiving one share in respect of every £2O of salary then being paid. The dividend on these shares will be limited to 121’ per cent., and as a result of this particular transaction the capital will bo increased by about £70,000, and the reserve fund by a like amount. This bonus is additional to the considerable amounts which have been added to the salaries in the way of cash war bonus for the purpose of meeting the increased cost of living, axil it has a good deal to commend it, for besides being an incentive to thrif, it gives every member of the staff an actual proprietary interest in the business. The scheme will involve the issue of a. now class of shares,, which is still subject to Treasury consent;

Pictures’ Safe Arrival. —A householder who had some valuable pictures to be removed, along with other things, employed The New Zealand Express Company, Ltd. The result was eminently satisfactory. His cherished pictures arrived quite undamaged, and he is enthusiastic about the care wo bestowed usoji his possessions.*