TRAMWAY COMPARISONS.

Dominion, Volume 3, Issue 854, 28 June 1910, Page 6

TRAMWAY COMPARISONS.

1 AUCKLAND AND WELLINGTON. 1 ■ A comparison of the working of the ■ Auckland and Wellington Electric Tram- " ways was laid beforo the Tramways Com- ' inittee of the City Council yesterday by ■ Mr. Stuart 'Richardson, electrical engi- > necr to the council. The Auckland account's summarised >■ show:—Total revenue, .£182,59-1; operat- - ing and other expenses, ii 116,015; reI newals, . ;C8577; interest on debentures, ■ iCIG,-155; depreciation (average 1.97 per I cent.), .£15,000; total, expenses, 42150,017; t credit balance, ,£2G,547.' The credit bal--1 anco is equal to (>;63 per cent, on the subt scribed capital of. &U)0,000. If tho debeu- ' turo stock and share issue are taken to- ■ gether the credit. balance would then lie I £43,002, which is. equivalent to 5.89 per ' cent, on the total capital invested. The Wellington accounts on the same ' basis would show:—Total revenue, ' ,£139,160; working expenses (including re- ' newals), ,£92,910; depreciation (average • 1.97 per ■■ cent), ; total expenses, > .£103,220; credit balance, .£36,240. This credit balance is equal to 7.17 per cent, on the loans raised in Wellington for tramways, power supply, and public lighting. The foregoing particulars show that if tho Wellington accounts were presented in the same way as the Auckland ones, the comparison on the basis of the capital . invested in the respective undertakings, tho Wellington results . would bo tho better. "In the following schedule I have reversed tho comparisons," says the engi- ' neer, "so that it can be seen how- the Auckland figures' would show if the accounts there were presented on tho same basis as those in Wellington'. In this i statement Wellington accounts summar- - iscd show:—Total - revenue, .£139,460; . working expenses (including renewals), 4292,916; interest on loans, .£21,131', sinking fund, ,£5051; depreciation, .£H,202; total expenses, net credit bal- , ance, "'..£6124.' '■ ~ .'. "Tho'Auckland accounts on the same basis would show.—Total revenue, , working expenses v (including renewals), .£119,170; other • expenses, •£SJ2S; intcrc'bl"' on debenture stock, depreciation at averago of 2J per cent., same as charged in Wellington, .£20,989; interest on share capital at samo average rato as is paid on loans in Wellington, i£lG,7-20; sinking fund of 1 per i cent, on shares capital and debentures, . same as provided on loans in Wellington, ■£7290; total expenses, ,£155,91G; debit balance, J3352. i "It will be seen, therefore," concludes i Mr. Richardson, "that if from the Auck- . land Tramways Company's gross profits, . interest, sinking fund, and depreciation wero deducted at the same rates as is done in Wellington, the Auckland ac- , counts would show a debit balance of ] .£3352, as compared with Wellington's credit balnnco of -j!G124."