GLASGOW LOSES £312,588 I NCREASES in fares made at the
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beginning ofthis year by Glasgow Corporation have not corrected the deficiency on the running of the buses, trams and underground railway.
The annual accounts, which have been presented to the transport committee. show a deficit of £312,588 in the year ended May 31 last. In the estimates of expenditure for the current year, provision is made for a loss of £308.000.
A28 It is calculated that thc past year's deficit would have been larger by £100,000 but for the improvement in revenue brought about by the adjustment in fares.
It is expected that the income will amount to £5,844,800, compared with an actual revenue in the past year of 0,502,911, and that the expenditure will be £6,152,800. compared with £5.814,189.
A recurring deficit of this magnitude will obviously have to be met either by increasing fares again or by changing the bookkeeping provision for depreciation and other reserves.
In his report,'Mr. E. R. L. Fitzpayne, general manager, mentions that the introduction of the trolleybus has been "an outstanding success."
The number of passengers now carried exceeds 800,000,000 a year, compared with 464,000,000 in 1419.. The number of vehicles in service has risen from 866 in 1919 to 1,940 to-day.