MANAWATUA RAILWAY COMPANY.
(By Telegraph.—Press Association.)
(Continued from page 4.)
WELLINGTON, this day
In moving the adoption of the report Mr Maearthy. Chairman of the Manawatu Railway Company, said the results compared unfavourably with the last five years, but that was owing to the policy of the Government, who had adopted ' discriminating rates which unjustly diverted traffic from their line. Considering that to do this the Government, carried goods and passengers fifty miles without charge and then by the costly Rimutaka, serious inconvenience was frequently caused to the public, and the operation was more likely to result in a loss than a profit to the colony. The company had materially reduced its rates and had carried more passengers and goods than last yea.r. Their balance from railway account was £G544, and from land sales £1964, which enabled them to pay a dividend of five petcent, absorbing £8500. The Chairman alluded again to the enormous amount of taxation paid by the company, which up to date, was £76,178, while the sum paid in dividends nvas only £72,250.
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Bibliographic details
Auckland Star, Volume XXX, Issue 79, 5 April 1899, Page 5
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176MANAWATUA RAILWAY COMPANY. Auckland Star, Volume XXX, Issue 79, 5 April 1899, Page 5
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