THE TRAMWAYS.

Dominion, Volume 6, Issue 1719, 9 April 1913, Page 10

THE TRAMWAYS.

RETURN OP THE FINANCES. INTERESTING COMPARISONS. The Tramways Boiml lias circulatcd n mims members of llip Tramways Committee a statement of tho tramways and power .supply revenuo and expenditure for the year ended March 31 lust. ' For the whole year the tramway revenuo was IL'ISI,S3S (.!:138,7S iu J9ll-12), an inereasi) over last year of JC13.129; and "xpendituri! for the year ended March Jll3il,!),ti (i;t!l7,i(j7 in 1011-12), «u increase of .tUTI, leaving a net surplus of ,£11,81)0, ngainst U11212 in 1911-12, an increase of AIO,G. r )8. The traffic receipts amounted to .t119,4-16, against .£138,5;;!) for 1911-12, an increase of Ji11,217. Taking in AVadcstowji tramway rates ami miscellaneous receipts, tho tolal increaso in revenue is £13,12!). Power Supply, The power supply revenue for the yoat has increased by XS23, and tho ivor Kin,"' expenses and capital charges by JiiOi. The net result on the year's operations is a surplus of ,£IO9B, as compared with .£979 Jast year, an increatc of .£ll9. Special expenditure met out t.f revenue during the year totals .£lO9l. In addition .the sum of £2V,1 has been -written off preliminary expenses, liases account, aud obsolete stores. After providing for all these charges there remains a credit biditnce from th» tramway and power_ supply not surpluses of JE9357, which will do carried forward. Accident Fund, The Tramway Accident. Fond is notv iu credit to the extent of .£5051, of which ■CtOOO is on deposit with tho District Fund at 1 per cent., i£lsll' is in the bank, and Mil is accrued interest payable by tho District Fund. An amount of <£12GG was paid during the year ill settlement of claims. Kinking Funds. The amount to the credit of I lie tramway, power supply, and public lighting sinking funds now totals ~£42,839, to which lias to be added a small amount of interest oil the amount of JC32O in the hands of tho Public Trustee. Altogether, the sum of .£.'!G,dßo has been invested by the Sinking Fund Commissioners. I Depreciation Account. The total amount to the'eredit of tills account is now . .£103,353, oi which I sum .£93,358 has been expended on new works and .£IO,OOO set aside as a renewals fund. Eenewals Fund. Two sums of .£SOOO each were set aside this year, being the 1911-12 aiul 1912-13 contributions from revenue to the l'und, ■£5000 has been invested by the Sinking Fund Commissioners. Cash Balance. There were cash balances nt the bank nnd in hand' on working account at March 31, 1913, amounting to X13,90'7. Add to this amount accounts due to the department, less wages and accounts payable by the-department, and there remains a credit balance of ,£10,500 available for expenditure on new works during the curwuit year. Proposed Seductions in Fares. Tn view ■of the very satisfactory result which .has chicily como about sinco tho introduction of the present fares system, the board recommends that on aiul after June 1 next the followinir alterations in concession tickets bo made in order to lessen the co'st of travelling to residents in outlying districts; the present sections and cash fares to remain unaltered. ' Two-section rides—Present scale, 14 for 2s. (area-age 1 5-7 d.); proposed scale, 1G tor 2s. (average lid.). Three-section rides—Present scale, 12 for 2s. Gd. (average 2!d-) i proposed scale, l! for 2s. (Id. (average 2 l-7d.). Four-section rides— l'resjnt scale, 12 for "s. (average 3d.); proposed scale, 14 for 3s. (average 2Jd.). This further reduction iu the cost ol travelling by concession ticket will, it is considered, largely incrca.se tho use of the-o tickets, and be of. great.: benefit to (hose residing in: tho suburbs,: tho total concession being equivalent "to "about i'3ooo per year. , Estimates foi Year 19J3-11. Tho estimated expenditure oil new works and works in.hand for the current year will amount to .£31,800. This includes tho completion of eight new cars, the extension of the carshed at Newtown, track duplication on Brooklyn and Willis Street line, additional plant fot tho power station, and 'soveral other necessary minor works. To meet this expenditure it is estimated that the following funds will ta available:— £ Credit bnlanco as at March 31, IDI3 10,500 Net surplus'for current year, including power'supply 8,000 Depreciation fund, less ,£SOOO set . .... aside for renewals 10,500 : , .£29,000 This wilt leave the department in debit at the end of the current vear .£SBOO, to bo met out of tlm following year's revenue. - Floctric Light. The electric-lighting revenue for tho vear ended March 31, 1913, was J3G532, an increaso of .£GOI ,on the figures for 1911-12. The total working expenses amounted to .£27,175, (an increaso of ,£2242), and the total expenditure to •£15,009, compared with The net surplus was .£13,118, as against ,£8938 for 1911-12, an increaso of .£-1210. After providing for expenditure on motor, cycles, for the lighting staff, writing off 4 per cent, of preliminary txpenses, and also writing down value, of certain old stores, in addition to the writing oiT of .£SOOO from goodwill account, and iCaOOO off - old station plant, there is a credit balance remaining of ,£2(i!)G, which will be carried forward. The total number of connections is 7581, an increase of 1271 during the year. The estimated expenditure for tho_ current year on new work is .£29,200, including turbine and boilers .1:17,000, extension ,of mains .£BOOO, commencement of system of underground mains <£2000. To meet this expenditure it is estimated that ,£28,000 will be available.