BIG SAVING ON TROLLEY BUSES
AUCKLAND, August 31. The effect of the adjustment of the exchange rate and the reduction of sales tax on omnibuses would mean a reduction in price of the 55 trolley busses now on order by approximately 185,000, said a report received by the Auckland Transport Board to-day. The reduction applied to bodies of vehicles as well as to chassis. In moving that a letter of thanks be sent to the Minister of Finance, Rt. Hon. W. Nash, from the board, the chairman (Mr H. A. Anderson) said the outcome was highly satisfactory. Every effort would be made to maintain fares at the lowest possible level. The effect of the exchange rate charge on loan debt and interest was also referred to in the manager’s report. Of the board’s outstanding debt, £402,700 was raised in England and would mature between 1950 and 1960. Exchange at 25 per cent on that would have amounted to 1100.675. The annual sum of 120,595 was payable in interest in England and exchange on that was previously £5240 a year.
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Bibliographic details
Grey River Argus, 1 September 1948, Page 8
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179BIG SAVING ON TROLLEY BUSES Grey River Argus, 1 September 1948, Page 8
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