AT THE HEART OF THE ROAD TRANSPORT INDUSTRY.

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LIVERPOOL'S RESERVE FUND EMPTY.

25th February 1938
Page 63
Page 63, 25th February 1938 — LIVERPOOL'S RESERVE FUND EMPTY.
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Which of the following most accurately describes the problem?

SPEAKING on Liverpool's passenger transport undertaking, Mr. Arthur M. Morris. a ratepayers' candidate in a by-election, said that some eight years ago there was a sum of -about £200,000 111 the reserve fund, and each year since approximately £100,000 had been passed to that fund.

"That fund to-day is empty," he continued, "and the trams are nearly on the rates ; they would be on the rates but for the fact that current expenditure is being met out of capital."

INCLUSIVE CONTINENTAL TOURS.

AN interesting series of tours has been planned for the forthcoming season by Worthington Motor Tours, Ltd.. covering Scotland and the Continent. The fares charged are inclusive of meals and all accommodation, gratuities, excursions incidental to the tours, and so on.

Seats are bookable through Red and White Services, Ltd., 80, Clapham Road, London, S.W.9.