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LEEDS IN SERIOUS FINANCIAL POSITION

26th May 1950, Page 33
26th May 1950
Page 33
Page 33, 26th May 1950 — LEEDS IN SERIOUS FINANCIAL POSITION
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Which of the following most accurately describes the problem?

IN the year ended March 31 last, Leeds 'Transport Department incurred a deficit of 117,313, although a record number of 252,874,35 passengers was

carried, Mr. A. B. Findlay, general manager, says in his annual report that previous deficits have been met out of reserve and renewals funds, which are now exhausted, am' the department is in a serious financial position.

In the current year, the increased price of fuel will add £47,000 to the undertaking's operating costs, and there are indications that the prices of other sup

plies will rise, Despite' financial difficulties, Mr. Findlay adds, some inducement will have to be offered to encourage staff recruitment.