1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124
125
126
127
128
129
130
131
132
133
134
135
136
137
138
139
140 
West Riding tries again
Page 46
If you've noticed an error in this article please click here to report it so we can fix it.
• On Wednesday in Leeds the West Riding Automobile Co. Ltd. applied to the Yorkshire Traffic Commissioners for another fares increase. This followed immediately upon the Minister of Transport's dismissal last week (CM April 4) of appeals by 19 local authorities against a grant made on May 1 1968 of an increase designed to produce £203,000 in receipts which was introduced on May 26 last. The Minister felt a lower increase would have been compatible with the company's purpose and the Government's prices policy and he had no doubt that the Commissioners would take this into consideration at the next application.
For West Riding, Mr. J. Booth said that when, at the last application, a gross profit of £94,000 was estimated, giving a 3.7 per cent return on capital employed, they had been accused of exaggeration but the actual profit had been £62,000 or 145 per cent. If no increase was allowed this time the return at December 31 1969, the end of their financial year, would be £65,000 or 2.55 per cant on capital invested, "which is unrealistic for a company this size," he submitted.
If granted and introduced on May 1 1969, there would be a revenue increase of £123,000 this year, giving a total profit of £183,000 or 7.2 per cent but this did not take into account another wage award now being negotiated, he said.
The undertaking would retain the 3d minimum. The next four stages would give an extra 0.25 miles for each penny and then half-mile increases for a penny with similar rises up the fare scale.
Referring to the company's decision to phase out the Wulfrunian buses which have proved so expensive to maintain, the Minister had said consideration might be given to writing these off against accumulated reserves but West Riding denied that there were any such hidden profits. The only alternative to not increase the fares was to reduce unremunerative services, it was felt.
Mr. I. Dalton, West Riding secretary, said there was a 4.75 per cent reduction in traffic in 1968 and although it had been 6,4 per cent over the first 10 weeks of this year, a similar annual decline was being estimated again.
At the last application the drop in estimated passenger receipts was given as £140,000: the objectors had said it was £57,000 too much. In the event it had proved to be an over-estimate of £16,000 said Mr. Booth.
Mr. Dalton said they had decided to accelerate the disposal of the Wulfrunian
buses, 41 going in 1969. In 1969 and 1970 46 second-hand vehicles were being purchased from associate companies.
For the 19 objectors, Mr. L. Scott suggested that estimated over a full year at the increased fares there would be a gross total profit of €252,800, if passenger decline continued at the same rate.
The hearing continues.