THE LATEST NEWS OF IMPORTANT EVENTS
Page 62
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"MAIDSTONE AND DISTRICT" PROFIT HIGHER.
PRELIMINARY figures of Maidstone and District Motor Services, Ltd., show that the frading profit for the year ended March 31, 1934, before providing for depreciation and income tax, amounted to £179,462, this figure comparing with 2175,701 for the previous year. Deducting depreciation and income tax, the balance amounts to £57,064, compared with £51,660 a year earlier. The payment of a final dividend of 71 per cent, on the ordinary shares brings the payment for the year up to 121 per cent. After transferring 46,535 to reserve, there is a balance of £20,163, which compares with £20,135 brought into the accounts,
MERGERS IN IRELAND.
I T is reported that the Dublin United Tramways Co., Ltd., has acquired the bus businesses of the Pirate and Marino concerns, owning some 14 vehicles.
NO MORE PETROL BUSES FOR CARDIFF?
T"E proposal of the National Oil and Coke Co., Ltd., to erect plant for the extraction of oil from coal at Cardiff caused the .matter of oil-engined buses to be discussed by Cardiff transport committee, on May 19. The manager (Mr. William Forbes) said that, in consequence of the satisfaction given at Cardiff by oil-engined buses, it was improbable that the corporation would again buy a petrol-engined bus.
It was decided to seek sanction to discontinue the St. Fagan's-Creigiau bus service.
1544 CHESTER'S PROFIT SWALLOWED L I AST year Chester Corporation's buses earned a profit, after charging interest on loans and sinking-fund contribution, of £1,244. After deducting the loss on the buses brought forward from the previous year (£154), a credit balance of £1,089 is left. Deduction of the debit balance brought forward from last year, £431; interest on loans (tramways), £1,213, and loan repayment (tramways), £2,037, there was left a debit balance of £2,591, towards which there was a contribution from the general rate of £1,200, leaving a deficiency of £1,391 to be carried forward to the next account. LEEDS BUS BALANCE MORE THAN DOUBLED.
DURING the year ended March 31, 1934, the buses of Leeds Corporation operated at a gross profit of £35,234, revenue having totalled £175,075 and working expenses £139,841. The profit is more than double that of the previous year, when there was a balance of £15,531.
Atter deducting interest on loans and adding bank interest, the amount carried from the net revenue account to the appropriation account is £32,807, this being reduced to £4,320 after deducting the amount transferred to the, renewals fund . (£10,169), contributions to capital (£6,112) and consolidation loans fund (£12,206). The total surplus for the year on the transport department was £28,500.
At the time that our analysis of municipal bus services was published in March last, the corporation was operating a fleet of 113 buses, mainly of Dennis and A.E-C. makes.
G.W.R. APPEAL AGAINST COUNCIL SERVICE.
THE Minister of Transport has dismissed the appeal of the Great Western Railway Co. against the decision of the South Wales Traffic Corninissioners in granting a licence to Merthyr Tydfil Corporation for a carriage service service from Merthyr Tydfil to Ahercanaid. As stated in our issue dated April 27, the route is within the Merthyr Tydfil authority boundaries. The C.W.R. is to pay the éosts of the appeal.