ither Fares Nearly All Profit ?
Page 37
If you've noticed an error in this article please click here to report it so we can fix it.
PPEALS by local authorities in South and 'West Wales against the teases in fares granted by the South les Licensing Authority to certain companies continued this week. On isday, Swansea Corporation's appeal inst the grant to the South Wales nsport Co., Ltd., was heard by Mr. Jar Davies,
4r. Meurig Evans, for Swansea, said t the company had.claimed that they .e in need of liquid reserves and, in ct, wanted a 100-per-cent. increase heir profits. The advances in fares nted were virtually all profit.
'he company were so prosperous, 1 M. Evans, that in the past four rs they had .renewed approximately -thirds of their fleet, substantially of surplus profits. The capital was roximately £730,000. "Yet," said Evans, ' they came forward lushingly to the Licensing Authority ask for increased revenue."
'he additional revenue from the last : increases would bring a profit of 6,000 over a full year.
Ir. Evans said that it was stated sig the Licensing Authority's prolings, that it was only a matter of rse for an application for increased s to he granted.