LISBON TRAMWAYS
A rise of some £20,320 in expenses, due partly to the higher price of coal and partly to the 74 per cent. increase in car miles, was cited by Mr. Frederick W. Kerr as the explanation of the slight decline in the profits of-Lisbon Electric Tramways. At the annual meeting he pointed out that improved services attracted some 3,500,000 more passengers but that, owing to reductions on workmen's tickets—a reduction which is now to be extended—this only brought in an additional £14,651. Pursuing its established policy of applying available resources, after payment of a 74 per cent. dividend, to improving its (Continued on page 1z28) FINANCIAL NOTES (Continued from page 1126)
services, the Company is now replacing open cars by closed cars, and new tracks, car sheds, &c., will have to be supplied in the near future to keep pace with the rapid growth of Lisbon. Ultimately, these extensions and improvements should be reflected in an expansion of net revenue.
Previous page
