* * * * 'Bus STRIKE EFFECTS.
That report now shows very clearly that the financial results of the great 'bus strike were fully as disastrous as bad been anticipated and, further, that its effect upon traffic receipts is being felt even today—that, indeed, is the, usual experience following some great strike, revenues which had been constant and progressive suffering a' setback extending over a prolonged period. But for one important fact there is little doubt that the dividend on Transport " C " Stock would have been reduced rather than increased: The important fact which has saved the situation was the Coronation. itself. It is true that owing to the 'bus strike enormous revenues were lost which otherwise would probably have meant a still further increase in the dividend on Transport " C " Stock, but for- tunately the suburban services of the Trunk Railways benefited so greatly by Coronation travel that the Pooling Fund was greatly increased. For it will be remembered that under the Pooling Scheme with the Main Line Railways the London Pas- senger Transport Board are entitled to about 62 per cent. of the total receipts from London passenger traffic within the London Transport area after deducting certain allowances. The Transport Board, therefore, shared in the special Coronation traffic of the Main Line. The result is indeed fortunate for the " C " shareholders, but' it cannot banish the fact that unfavour- able financial results for the year were only prevented by the pooling arrangement and by the exceptional circumstances of the year. The loss inflicted upon the tube and 'bus revenues by the strike cannot be too strongly- emphasised.
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