NEW ZEALAND RAILWAYS.

Timaru Herald, Volume XLV, Issue 4047, 27 September 1887, Page 3

NEW ZEALAND RAILWAYS.

The traflic returns of the New Zealand Governmont railways for the first 20 weeks of tho current financial year (boginning on the Ist April last) aro now complete. Tbo total receipts for 1730 miles were £394,400, as against £373,782 for tho corresponding period of last year. Of this sum tho working exponsos absorbed 09 per cent, or £275,620, as agaitst 73 por cent, or £277,191, last year. That is to aay, tho recoipts showed an increase of nearly £21,000, while exponnosworo practically about tho same as last yoar, thero boing only a difference of £371, which, hov/ovor, is on tho right sido — although 87 moro mileo werp worked this year. Tho not profits this yoar ho far aro £20,000 moro than last yoar. The details of tho traffic show that thoro hns boon an increaso of 72,173 in tho number (1,280,287) of pasoongoro carriod, an ineroHso of 17,03'J in tho parcels, a decroaao of 9637 in tho uumuur uf live Block

conveyed, and an increase of no less than 41,714 tons in the goods traffic. This is not at all bad. Still there is a deficiency aa against tho Treasurer's estimate at the rate of no less than £75,000 for the year. We pointed out at tho time that Sir Julius Vogel's estimato of railway revenuo wnß excessive and misleading, and suggested that he should revise it as he did the year before. But for once the Government chose to stick to their colours and to stand by an over-sanguine estimate, which we fear is very unlikely to be realised unless some sudden and remarkable ''leaps and bounds " should take place butween this time and 31st March. Comparing the different lines, we find that on the Auckland, Napier, Wollington, and Wanganni lines in tho North Island, and on the Canterbury, Otago, Greymouth, Westport, and Nelson line in the South, there is an increase in the receipts, but on the Kawakawa, Whan»aroi, and Picton lines the receipts have fallen oft". The proportion of revenue absorbed by working expenses ha3 decreased on tho Auckland, Wellington, Wanganui, Greymouth, and Cauterbury-Otngn lines, but has increased on tho Kawakawa, Wh.anga.rei, Napier, Westport, Nelson, and Picton liues. On the Whangarei nnd Pictou section, indeed, Ilia expenditure has swallowed up the whole receipts and a good deal beside, the ratio of expenditure to revenuo being 113 and 111 per cent respectively. On tho Greymouth coal line the receipts have been at the very high rate of £3822 per mile per annum. —N.Z. Times.