LOWER EARNINGS.

Press, Volume LXVI, Issue 20094, 25 November 1930, Page 12

LOWER EARNINGS.

TRAMWAY BOARD'S FINANCES. EXPENSES ALSO REDUCED. In its report to the Christchuren Tramway Board yesterday afternoon, the Works and Traffic . Committee stated: — For the four weeka ended October 12th last-there was a decrease in operating expenses of £.1791, -with a decrease in earnings of £95, 10 that the net result is an improvement of £1696 for the month.

The last financial year, ending .March 31st, 1930, closed with a surplus of 5.3561. It is not expected the same surplus will be shown at the end of this year, concluding March 31st next, but it is reasonable to expect that no deficiency will arise. The report also stated: There is a prospect of the financial position of the buses being better than for last year to the extent of £7OO. Mr E. H. Andrews said that they should deny most emphatically that the Board was making huge losses on the running of the trams. He knew that such an opinion was prevalent. While it was true that Earnings had been decreasing, expenses had also been reduced. The Board managed to weather the storm. An impression' existed that the Board could not carry on, but it was not true.. The public were taking the *wrong assumption frota the figures published, and some of, them, did not read the comparisons properly. Position in Other .Cities. "An analysis of the balance-sheets, together Trith previous ones, shows_ howclose to the wind the Board is sailing," said Mr D. Syi.es. "There is no margin to come and go on,.and. thi concern will need careful handling to feteer clear of rocks. Beckless handling will spell disaster. Seventy-five per cent, of thfe Board's revenue is picked tip in the first three sections, and the rest of the service is carried on the expense of tramusers within these sections. Yet Mr J". McCombs's electioneering squib (printed in Wellington and broadcasted here) would have you believe that Wellington's 3s 12-ride universal ticket is a huge success there, and is badly needed here. Half-truths are worse than lies when spoken to mislead and deceive, and the comparison between Wellington and Christchurch is a case in point. The Mayor of Wellington recently announced that the 3s ticket would have to be withdrawn on account of falling revenue." Christchurch concession tickets were the cheapest in New Zealand, with the exception of Dunedin 's first section. "Mr McCombs and his associates are not playing the game with this catchvote dodge," said Mr Sykes. While Mr Sykes was speaking several of the members asked whether he was reading his address, but the chairman. Mr W. Hayward, allowed him to proceed. The report was adopted.