ABSTRACT
IN another column of the present issue we reproduce the reports recently made to the Tramways Committee of the Coventry Corporation by the General Manager, Mr. T. R. Whitehead, and the professional auditor, Mr. E. T. Pierson, F.C.A., as to making provision in the accounts for renewals, and on other questions of financial policy. These reports would have proved interesting reading at any time; but they are especially important now, as having a distinct bearing on a point raised in the recent Telephone Award; and, further, because the unfortunate results achieved by municipal tramway undertakings in many cases where they enter into active competition with motor omnibuses, have emphasised the importance of sound finance, even in the case of undertakings municipally owned.
