All-round Rise at Coventry
Page 53
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REVENUE, passengers and mileage had all increased during a satisfactory trading year which ended on March 31, said Cllr. W. Spencer, chairman, Coventry Transport Committee, last week. A trading profit of £152,267, subject to debt charges and renewal contributions, left a net £56,218 available for appropriation, he added.
Expansion of services was mainly responsible for a revenue increase of £53,315 over the previous year but, Cllr. Spencer pointed out, the recent wage awards would add some £95,000 to the department's annual wage bill.
The committee would have to consider other ways of increasing income to avoid a deficit next year. Consideration would be given to abolition of cheap morning fares and an all-round increase in fares, he stated.
RECORD BUS TRAFFIC
nESPITE growing competition from private cars, Lisbon Electric Tramways, Ltd„ last year carried over 7m. passengers more than in 1958, with a record of 381m. The, buses carried .more than 100m. people for the first time. The growth in tram traffic has been aIrested. Since January the company have ordered 20 more front-entrance double-deckers with driver-operated doors.
Lisbon Electric Tramways made a profit last year of £46,806. A dividend of
6 per cent., tax free, is' being paid on the .
ordinary shares,