FINANCE OF THE CITY TRAMWAYS.

Star (Christchurch), Issue 19236, 25 November 1930, Page 11

FINANCE OF THE CITY TRAMWAYS.

j DIVERGENT VIEWS r BY TWO MEMBERS. ' Two different opinions cf the finan--5 cial position of the Christchurch Tram--5 , way Board were voiced at yesterday’s s 1 meeting of the board. ■* The Works Committee reported a dei crease in operating expenses for the - four weeks ended on October 12 of f £1791 as compared with the correspond- " mg period last \'ear. There was a del crease in earnings of £95. the net improvement being £1696. Last financial 1 year closed with a surplus of £3561. There was a prospect of the financial position of the btises being better than last year to the extent of £7OO. An Excellent Position. . "We are in an excellent position, especially when compared with other big concerns,” said Mr E. H. Andrews. “People seem to have the idea that the 3 Tramway Board is losing money, but 5 that is not the case, and the impression should be corrected.” * Mr D. S>’kes evidently’- held a differi ent opinion. “I belong to no associa--1 tion, and so it is all in order for me t to say what I want to say,” lie declarr cd. “An analysis of the balance-sheets f with previous ones show how close to a the wind the board is sailing. There 2 is no margin to come and go upon and the concern will need careful handling • to steer clear of rocks. Reckless hand- - ling will spell disaster. SeventyMlve 1 per cent of the board's revenue is pick--5 up in the first three sections, and - the rest of the service is carried on at ] the expense of tram users within these » sections. Yet Mr J. M’Combs’s electionr eering squib—printed in Wellington and broadcast here—would have you believe that Wellington’s 3s twelve-ride univer- ** sal ticket is a huge success there, and > is badly needed here. i ■