RAILWAY EARNINGS.

Auckland Star, Volume LXX, Issue 33, 9 February 1939, Page 12

RAILWAY EARNINGS.

BUDGETARY POSITION.

MINISTER OPTIMISTIC.

(By Telegraph.—Prese Aeeocintten,)

WELLfifCtON*, this day.

The Minister of Railways, the Hon. T>. (',. Sullivan, stated to-day that he had every reason to anticipate that the Budgetary estimate made at the beginning of the current fhianctu-l year for the net earnings from the railways of £505,000 would he realised, plus an additional £200.000 from the increased rates operative from December Yl. Returns for the four weeks ended January 7 showed a net revenue of £55,1H(). or .02.215 less than for the corresponding period of lf»."W. These receipts, however, were adversely affected by advance lwiokings in the previous period, . anticipating the Increased rates and the unfavourable holidav weather.

Although the net revenue for the 40 weeks ended January 7 fell short of the estimate of £78.830 by £25.!M1, the revenue for the three, weeks subsequent to January 7 ihowed a total increase of £(!8.000, which. after allowing for a 10 per cent increase in the rates, was much above the estimate, and would 'assist substantially towards making up what was required to meet the Budgetary position.

Another favourable feature was that no debit wimilar to the £H3,000 shown in the accounts for the March period Inst ydar, f6r arreal's of wages and salaries due, but not paid, would appear In the March accounts this yfcar, all payments having been made at the increased rates.