£45,000—Cost of Wage -Increase
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QIIAREHOLDERS were told by Mr. s.-) W. T. James, 0.B.E., chairman of the Aldershot and District Traction Co., Ltd., at the annual meeting, that if the latest application by company operatives for increased pay were granted in full, it would add £45,000 a year to the company's costs. The previous increase, granted last December, cost £35,000 a year.
He said that operating economies in the year ended May 31 last were mainly responsible for a reduction of 500,000 in mileage run. The number of passengers carried dropped by lim. and traffic revenue by about £6,000. The year's revenue was £900,000. Expenditure rose by 4 per cent.
Increases in fuel tax imposed ill the Budgets of 1950 and 1951 had cost the company £65,000 a year, whereas it was proposed that the shareholders should receive in dividends only £50,000.
Mr. lames said that a third application for increased fares was expected to be lodged shortly with the Licensing Authority.