Plymouth - .to Lose £17,000 This Year ?
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AT last week's meeting of Plymouth City Council it was revealed that despite increased fares, the transport department was continuing to lose money.
Aid. H. M. Medland, chairman of the transport committee, said that at the end of July, when the undertaking had been operating on the increased fares for a third of the financial year, it became apparent that the law of diminishing returns was operating more strongly than had been estimated. Any further increase in fares might bring another serious decrease in traffic.
Revenue had risen by £35,000, but £.40,000 was needed. The original estimate had showed a surplus of about £9,000 at the end of the financial year, but on the present basis there would be a deficit of .approximately £17,000.
Either increased revenue or a saving of £20,000 was required for reasonable safety, said Aid. Medland. In apply. ing for increased fares the committee had recommended one scheme and the council had adopted another. The difference in the yields of the two schemes amounted to about £7,000 a year.
A number of economy measures on existing services was proposed by the committee.
MORE ROYAL TIGERS FOR ISRAEL
THE D.A.N. and Eshed co-operative
bus undertakings of Israel are to take delivery of 85 Leyland Royal Tigers through the Consolidated Near East Co., Ltd. The order is worth over £250,000. • The vehicles will operate around Tel Aviv.
These operators have run Royal Tigers for three years and are replacing petrol vehicles by oilers. Bodywork is to be constructed in Israel, and to allow easy entrance for the infirm there will be a drop-frame at the rear with three shallow steps.
PERKINS RESUME PRODUCTION
AS a result of the settlement of the strike at the crankshaft works of Ambrose Shardlow, Ltd., Sheffield, F. Perkins, Ltd., have withdrawn the notices temporarily terminating the employment of 1,400 workers.
These men had been under notice for a week, because the stoppage of the supply of crankshafts had arrested the productionof engines at Peterborough. Until normal supplies of crankshafts are resumed, however, it is possible that a certain amount of shorttime working will be necessary.
P.M.T. TO RAISE CAPITAL CHAREHOLDERS of the Potteries ■ -) Motor Traction Co., Ltd., will be asked on October 23 to approve an increase in the capital by 1474,025 in £1 ordinary shares. For the first time for several years an interim dividend of 5 per cent. is to be paid.