RAILWAY FINANCE.
A TIME OF DIFFICULTY. (By Telegraph—Press Association.) WELLINGTON, this day. The local branch of the Railway Officers' Institute entertained delegates of various branches attending the annual conference of the institute in Wellington. Mr. Gallagher, chairman of the local branch, presided. He said the utmost good feeling prevailed between the management and the officers of the institute.
Mr. James Mac Donald, assistant general manager of railways, spoke of the difficulties of tlie department. For tlio first time in recent history the department had to face financial difficulty. It was behind in payment of interest oil the cost of railways. A railway system, whether managed by the State or by a company, was a great and complete machine which it was impossible to adjust immediately to the fluctuations of the business of the country, particularly such as experienced following the Great War that was the cause of the present financial position of the department. Tt was the pusition of every <reat railway in, the world. " °
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Auckland Star, Volume LIII, Issue 137, 12 June 1922, Page 4
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165RAILWAY FINANCE. Auckland Star, Volume LIII, Issue 137, 12 June 1922, Page 4
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