INCREASED DEFICIT

Wanganui Chronicle, Volume 79, Issue 142, 17 June 1936, Page 8

INCREASED DEFICIT

AUCKLAND TRANSPORT BOARD t Per 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 annua! meeting of the board. There were large increases in both revenue and expenditure and £30,036 was paid as currency exchange. The chairman, Hon. H. G. R. Mason, said that the total revenue for the year, £544,834, was an increase of £22,139 ever the previous year. The year’s expenses at £561,010 showed an increase of £29,974. Alter pay interest £112,111, sinking fund and other payments there was a deficit uf £15,187. This deficit included a sum of £4042 payable by way of redemption of a portion c-f the board’s loan indebtedness. The report reviewed the position regarding the board’s liability to pay in sterling interest on the 5 per cent, and 5} per cent. London domiciled debentures of the Auckland city tramway loan 1919 (£1,250,000), and mentioned that’ an appeal would be made to the Pfivv Council.