Thames Valley Fares Increases
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CROM £150.000 in 1959 the Thames Valley Traction Co.'s profit before tax had dropped drastically to £111,583 in 1961, the South Eastern Traffic Commissioners were told at Reading on Tuesday, when hearing an application for a fares increase on nearly 40 rural services. They were told that last year unremunerative country services cost the company £92,640, and if the increases asked for were granted they would still he running at a loss of nearly £80,000 a year. Some service cuts had already been made and others were planned.
There were objections from Berkshire County Council and 15 local authorities.
For the Thames Valley Co., Mr. J. R. C. Samuel-Gibbon said that 61% of the company's services was unremunerative, as was 36% of the mileage.
Granting the application, the chairman, Mr. H. J. Thom, said the Commissioners found it was warranted because of the company's overall financial position. The Commissioners could suggest no solution to the problem, but they were not at present prepared to contemplate any suggestion that cross-subsidization should cease. The new fare scales come into force on April 7.