.9,000 Profit from ew Fares Expected
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isRE increases granted on Monday to Hull Corporation will enable the ertaking to avoid a deficit next year leave a £19,000 surplus to be used reserve fund for buying new vehicles. Ir. K. Campbell, for the corporation, the Yorkshire Traffic Commissioners . it was the first time an application n Hull had been based on a revised roach to the purchase of new ides. Before the war, stock replaceits had been paid for out of a reserve rl, but in recent years the reserve had a used up in meeting deficits.
Ir. G. H. Pulfrey, general manager, the last fares increase did not take ■ account a rise in wages, hut the ober pay award would cost £25,290 . full year. There had been a decline raffle and a fare increase was necesto secure financial stability.
I 1957-58 the deficit was £46,223, but le increase were granted there would a surplus of £19.000 on a year's king.
be application was unsuccessfully osed by Mr. G. W. Knight, president Hull and District Chamber of Trade. said increased fares were inflationary would throw considerable extra ense on people who had to travel to' k. The result would be that more pie would turn to private transport, the drop in traffic would be !lerated.