THE RAILWAYS.

Ashburton Guardian, Volume 55, Issue 137, 22 March 1935, Page 3

THE RAILWAYS.

FINANCES REVIEWED. (Per Press Association). WELLINGTON, March 21. The chairman of the Railways Board (Mr H. H. Sterling) announced to-day the preliminary figures showing the financial results of the working of the railvvays for the portion of financial year up to March 2, 1935. For the four-weekly period which ended on that date, the gross revenue had increased by £46,951, while work-, ing expenses increased by £21,971, resulting in an increase in the net revenue of £24,980 when compared with the corresponding period last year. For the portion of the financial year up to Alarch 2, the gross revenue showed an increase of £287,875, while expenditure showed an increase of £331,594. The net result to the date mentioned was a decrease in the net revenue of £43,719 compared with the previous year.

Included in the working expenses was the cost of the 5 per cent, restoration of wages and salaries and the cost of the rent agreement which had been made during the year. The aggregate of these items to March 2 was approximately £166,000. There was one more period to go before the year ended, said Air Sterling, and he felt very sanguine that the forecast which he had made some months ago that the Department would bo able to carry the increased expenditure in which it had been involved and at the same time return net revenue equal to that of last year, would be realised.