NEWCASTLE RESERVES HIT 10-YEAR LOW
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NEWCASTLE CORPORATION buses made less profit and carried fewer passengers last year, revealed Mr. Frank S. Taylor, its transport undertaking general manager in his annual report on Monday.
Passengers at 130m were six per cent down on the previous year while gross revenue was £2,906,615. Net profit was £98,411 (compared with £233,078) and as a result reserves fell to £219,682, the lowest for 10 years. Mr. Taylor warned that accounts would not balance in the current year unless additional revenue was found.
Overall costs of running buses had increased by about 2fd a mile to 3s 4d a mile during the year.
The Government owed the Corporation more than £42,000 in refunds on fuel and SET.
• AN independent bus company which has operated in the North Angus and Mearns area for 40 years, Mitchell's of Luthermuir, is to be taken over by W. Alexander and Sons (Northern) Ltd., subject to the granting of licences. The 11 buses and 22 staff will be retained by Alexander.
• WALSALL CORPORATION has placed a repeat order for 15 Daimler Fleetlines. They will have the normal 16ft 3in. wheelbase, but the chassis will be shortened at the front to give an overall vehicle length of 27ft 6in. Powered by Gardner 6LX engines, the buses will have Northern Counties coachwork.