TRAMWAY EARNINGS

Dominion, Volume 11, Issue 178, 17 April 1918, Page 4

TRAMWAY EARNINGS

BIG INCREASE IN WORKING EXPENSES. The net profits made by the Wellington city tramways during the year ended March , 3t last were £12.607, a sum that represent l ? a. fraction over U per cent, on. the capital (<£B(X>,36s) involved in the undertaking , , a return that ehows that the servico is run entirely for the benefit of the people. Whether li per c«nt. is a safe margin of net profit in such an undertaking is a matter for experts to decide, and probably, with the working expenses ■ increasing at a greater Tatio than the growth of revenue, they would have some doubte upon the matter, doubts which several members of the City Council have voiced when the tramways have been under discussion. The annual financial statement for the tramways year was presented to the Tramways Committee yesterday afternoonj and will come before the council in the ordinary way on Thursday evening. The returns for the year, compared with those for. 1916-17, are shown in the following manner:— Revenue. 1917-18. 1916-17. £ £ Passenger fares 202.118 192.G67 Carriage of luggage on __ passenger cars >I,Bjo -,H8 Car mileage (lues 9,646 8.976 Advertising on cars 2,568 2,0*7 Carriage of goods (freight service) l.&o M" Miscellaneous receipts ... 1,059 994 Total revenue £218.320 £207,946 Expenditure. 1917-18. 1916-17. ' £ £ Traffic expenses 82,172 78,311 General expenses 9,086 9,392 Repairs and maintenance 33,51* 33,m3 Power expenses 31,313 24,909 Total working expenses 155.885 145,385 Interest 21,014 21,055 Sinking fund ..'. 5,122 5,164 Rcnowal and reservo fund 18,399 17,382 Total expenditure 100,t20 188,986 Balance carried to Appropriation Account ... 17,900 la.WiQ £218,320 .£207,916 Appropriation Account. Credit balance from Tramway Account •• ••• ' Credit balance from Power Supply • Account • 9 " £18,8*7 Special expenditure : ••• _ b > m Net profit on year's operations... £12,607