CIVIC BUSINESSES

Dominion, Volume 9, Issue 2749, 18 April 1916, Page 8

CIVIC BUSINESSES

TRAMWAYS AND ELECTRIC LIGHT A GOOD YEAR It is gratifying to record that tlio city has come out of the year's operations in connection with, its tramways, power, and eloctrio lighting-enterprises very well indeed. Perhaps the shareholders of a private company would be eatisiied with a' return of .£21,474 on the expenditure of .£715,786, but there is no doubt that the bulk of tli© citizens. will consider this to be an excellent showing, though not one that will call for any less careful ( management than is now being shown. At the beginning of the year the total amount of capital sunk in the Wellington tramways was, as stated above, since then, to March 31, another JUi,43B has been expended, so that tho tramways have had the advantage of perhaps a little more work than is represented in the firstnamed sum. This capital expenditure during the year was made up as follows (and, of course, included the new section to South Kilbirnie, via Crawford Road) Permanent way (including widening), £615,126; electrical equipment of lines, ,£9130; land and compensation, jEli!2o; Buildings and fixtures, .£I2SI; power station plant, £312; electric cars, JE8796; other rolling stock, .£535; motor buses, .£3276; extensions to power supply system, <£1281; extensions to track lighting, .£110;. annual payment to Miramar Borough, .£1053; total, ,£45,823. Deduct amount written off preliminary expenses, <£1385. Net ,total, w£44,438. The Capital Expenditure. - The addition of' the .£44,438 brings the capital invested in our tramways up to £700,224, made up as follows:- - ' £ Loans 553,230 Contribution towards cost of Kilbirnie Tunnel 10,000 Sinking Fund applied in repayment of loan 6,293 Contributions from net revenue ... 46,807 Contributions from Depreciation 3?und i .j 130,547 Temporary advance from bank ... 13,552 Balance owing to Miramar Borough 2,106 761,535 Deduct Wadestown Loan moneys unexpended 1,311 .£760,224 The Year's Revenue, During the financial year ended March 31 last the revenue from the tramways in fares amounted to J3172.154, an increase of *£19,196 on last year's figures, and altogether (including all avenues of revenue/, ,£187,864, an increase of £20,533. The total expenditure (including interest and Sinking Fund charges), amounted to £100,744, an increase of ,£8782 on tho year, leaving the sum o£ .£27,120 to bo carried forward to the Appropriation Account. The detailed figures are as follow:— REVENUE FOB TEAR. ' 1915-16. 1914-15. £ £ Passenger fares 172,184 152,988 Carriage of luggage on 1 passenger cars 2,036 1,613 Car mileage dues 8,244 7,589 Advertising on oars ... ■ 1,807 1,967 Wadestown Tramway rates i................ 1,768 1,764 Carriage of goods (freight servioe) 962 713 Miscellaneous receipts 863 697 Total revenue 187,864 167,331 EXPENDITURE FOR YEAR. Traffio expenses ./ 69,766 63,047 General expenses 7,640 1 8,375 Repairs and maintenance 22,829 22,882 Power expenses ' 18,583 16,834 Total working expenses 118,817 111,138 Interest and charges ... 20,457 20.44S Sinking Fund ............. 5,177 5,168 Depreciation ;... 16,293 15,208 Total expenditure .... 160,744 151,962 Balance carried to appropriation account ... 27,120 15,369 187,861 167,331 The credit mentioned is not, however, net credit. To the revenue from tramways must be added the profit of .£1306, made in the sale of power, making the credit "up to ,£28,426, but from that sum must be deducted .£6952, special expenses incurred during the year, in altering cars, overhead 1 equipment, relaying feeder cables, active service pay for men in khaki, etc., which reduces the credit to .£21,474 for tramways and power. Interesting Statistics. The following statistic will be found of interest:— Percentage of working expenses to total rev- v enue 63 p.o. 66 p.c. Total revenue per car mile 16.19 d. 15.92 d. Working expenses per car mile 10.24 d,. 10.57 d. Capital charges per car mile X 8.62 d. S.B9d. Total operating expenses . per car mile .......... 13.86 d. 14.46 d. Passengers carried on City lines 28,687,773 25,517,515 Passengers per car mile 10.94 10.78 Car miles run all lines 2,784,402 2,521,692 Total units generated at t.he Tramway Power Station 7,992,393 6,443,598 Electric Light. ' A much more profitable business is the Electric Lighting Department, which on a capital of <£231,553, has made £10,559, after writing off on account of old station plant (.£5000), goodwill (.£5000). As .£20,000 has now been written pS old station plant, and a similar amount off goodwill, those accounts must bo almost wiped out, and it would surprise few to learn, of the council's intention to still further reduce the pries of current. The capital expenditure up to March 31 last was .£241,668, which was reduced' to .£231,553 by the amount of .£10.115 being written off. The funds from which assets have been built axo as follow:— . £ Loans 176,900 Contribution fTom Depreciation Fund 52,090 Contribution from net revenue £42,563 Less written off plant and goodwill 40,000 ——- 2,563 ; £231,553 The bank balances now stand as. follow:—Lighting revenue account", ; lighting accident fund, <£2212. The Year's Working. The following give details of tho year's working:— : 1915-16. 1911-15. Revenue — £ Private lighting 53,072 47,883 Public lighting 5,939 6,936 Power supply , 4,358 ' 4,552 Heating supply 3,C03 • 3,050 Miscellaneous receipts 619 435 Total revenue <£67,623 .' .£62,850 1915-16. 1914-13. Expenditure— £ £ Generation expenses... 16,685 16,409 Distribution expenses 4,466 4,697 General expenses 7,357 7,153 Total working expenses 28,508 28,259 Interest and charges... 7,158. 7,169 Sinking fund 3,169 3,109 Depreciation 7,871 7,944 1 Total expenditure 46,700 46,541 Balanco carried to Appropriation Acoount 20,917 16,315 | .£C7,623 ,£62,856 An expert gave evidence before tho Pearling Commission at Geraldton that whito divers were a failure.