1.—15

(c) Indebtedness and Annual Loan Charges The following table shows the net loan indebtedness of the two Urban Transport Boards at present in existence —namely, those in Auckland and Christchurch respectively. Auckland Transport Board appears in the table for the first time in the year 1929-30. During the last twelve years of the period under review very few capital works have been undertaken by either of these two Boards. Consequently outstanding loans have been materially reduced, and there has been some reduction of outstanding loan charges. In both these cases major expansions and major changes in system are contemplated in post-war years which may involve a considerable extension of the net loan debt. Table showinq the Amount of Net Indebtedness on account of Loans of Urban Transport Boards from 1924-25 to 1943-44 £ £ 1924-25.. .. 967,786* 1934-35 .. .. 2,264,054 1925-26.. .. 977,724 1935-36 .. .. 2,203,488 1926-27.. .. 1,076,150* 1936-37 .. .. 2,166,523 1927-28.. .. 909,558* 1937-38 .. .. 2,088,583 1928-29.. .. 896,591* 1938-39 .. .. 1,798,462 1929-30.. .. 2,413,260 1939-40 .. .. 1,968,221 1930-31.. .. 2,501,369 1940-41 .. .. 2,046,591 1931-32.. .. 2,410,406 1941-42 .. .. 1,962,307 1932-33.. .. 2,533,865 1942-43 .. .. 1,806,335 1933-34.. .. 2,301,815 1943-44 .. .. 1,699,498 The only occasion during the period under review when an Urban Transport Board raised loans through the State Advances Corporation was in 1924—25, when £16,500 was so raised. The following table shows the total annual loan charges paid by the Urban Transport Boards in the period under review :—

Table showing Total Annual Loan Charge of Urban Transport Boards from 1924-25 to 1943-44

(10) Gas Board (a) Revenue The only gas district in operation at the present time is that in the territory of Petone Borough and Hutt City. The Board had its origin in the fact that the area of two adjacent boroughs was supplied by one works, and hence a separate ad hoc authority was necessary. The whole of the receipts are derived from the sale of gas, no receipts being from rates.

* Christohurch Tramway District only.

108

Year. Interest. Total. Year. Interest. Total. £ £ £ £ £ £ 1924-25 .. 52,784 5,188 57,972* 1934-35 .. 147,669 49,714 197,383 1925-26 .. 53,934 8,371 59,305* 1935-36 .. 147,208 44,506 191,714 1926-27 .. 55,487 5,513 61,000* 1936-37 .. 146,524 48,812 195,336 1927-28 .. 56,202 3,873 60,075* 1937-38 .. 144,951 51,491 196,442 1928-29 .. 56,202 3,542 59,744* 1938-39 .. 137,761 65,139 202,900 1929-30 .. 160,364 46,197 206,561 1939-40 .. 122,548 72,623 195,171 1930-31 .. 171,018 51,599 222,617 1940-41 .. 107,987 87,442 195,429 1931-32 .. 168,716 55,330 224,046 9941-42 .. 105,584 90,939 196,523 1932-33 .. 182,078 36,198 218,276 1942-43 .. 97,008 90,575 187,583 1933-34 .. 167,879 34,596 202,475 1943-44 .. 93,488 92,039 185,527