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Committee's Report Disappoints Mr. Birch
Page 43
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IN the first company report since the I announcement of the recommended 15s. a week rise for company busmen (reported in last week's issue), Mr. Raymond W. Birch, chairman of the Yorkshire Traction Co. .Ltd., said last Thursday that it was too early to ascertain the final effect of the Committee of Inquiry's recommendation.
Mr. Birch was speaking at the company's 64th annual general meeting, and said that the Committee's report was most disappointing in its main conclusions: it seemed certain that the company's costs would rise immediately by at least a further 05,000 per annum and eventually by considerably more than , that.
An increase in operating expenditure last year of some £80,000—of which more than £70,000 was attributable, to labour costs—was reported by Mr. Birch. The company was given permission to raise certain fares as from April 25 last year, but even • so the revenue for the year was only 09,000 higher than for 1963. This left a net revenue before tax which was £21,000 Less than for 1963.
The cause of this was a disappointing drop in the receipts from the company's main source of income --the operation of stage carriage services. The number of passengers carried in 1964 at 71.317,000 was 1,322,000 lower than in 1963—a fall of It per cent. As the weather last year was if anything better than that to which we had been accustorned in recent years. Mr. Birch wondered if this was a contributory cause of the diminished bus Continued on [,we 42