BIG RAILWAY BUSINESS

Auckland Star, Volume XXXIX, Issue 79, 1 April 1908, Page 9

BIG RAILWAY BUSINESS

THE .lAN AWATU LINE. <By Telegraph.—Press Association.) WELLINGTON, this day. At the annual meeting of the Wellington and Manawatu Railway Company today, the chairman stated that the year just closed had been a record one for the volume of business done, and also for the greatest individual increase in any one year. He doubted if the most sanguine of the directors dared to hope last year that the ensuring 13 months' operations would result in an increase -in revenue amounting to £15,913. In the past two years the aggregate increase totalled £25,059, or approximately 16 per cent of the whole revenue during the year. The number of passengers carried during the year increased from 510,506 in 1907 to" 601,250. and this increased accounts (with parcels) for £9355 of the improvement in revenue. Goods carried during the year amount to 134,779 tons, or 15,718 more than last year, and this increase accounts for £616S of the larger revenue. Expenditure increased by £ 14,214, and amounted to 60.2 per cent- of receipts. The sum available for dividends is £44,941. It was proposed to pay out of this a dividend of 4 per cent, making, with the interim dividend of 3 per cent already paid, 7 per cent for the year, and to carry forward a balance of £33441. Referring to the matter of the Government taking over the line, the chairman said: ~_.t the present juncture -we can only await events, but we are quite prepared to facilitate and assist the Government in the acquisition of the line in every way consistent with due regard to the interest of shareholders."

Messrs. J. R. Blair and H. Strang were re-elected to the directorate.