LARGE DEFICIT
AUCKLAND TRANSPORT BOARD By Telegraph—Press Association AUCKLAND, June 15 A deficit of £16,187 compared with a deficit of £8351 last year, is shown in the balance-sheet for the year ended March 31 of the Auckland Transport Board, which was presented at the annual meeting of the Board. There were large increases in both revenue and expenditure and £20,036 was paid as currency exchange. The chairman (Hon. H. G. R. Mason) said the total revenue for the year. £544,824. was an increase of £22,139 over the previous year. The year’s expenses at £561,010 showed an increase of £29,974. After payment of interest (£112,111), sinking fund (£25,532) and other payments there was a deficit of £16.187. This deficit included the sum of £404” payable by way of redemption of portion of the Board’s loan indebtedness. The report reviewed the position regarding the Board's liability to pay in sterling the interest on the 5 per cent, and 51 per cent. London domiciled debentures of the Auckland City Tramway Loan 1919 (£1.250,000) anc mentioned that an appeal would b« made to the Privy Council.
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Bibliographic details
Timaru Herald, Volume CXLI, Issue 20445, 16 June 1936, Page 8
Word Count
182LARGE DEFICIT Timaru Herald, Volume CXLI, Issue 20445, 16 June 1936, Page 8
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