OUR RAILWAYS.

Press, Volume LXIII, Issue 12852, 10 July 1907, Page 7

OUR RAILWAYS.

•♦ MINISTERS ANNUAL STATEMENT. INCREASE OF TRAFFIC AND EARNINGS (SPKCLAL TO "XHI PRESS.") WELLINGTON, July 9. The annual Railways Statement presented to Parliament to-day states that the revenue for the past year amounted to £2.024,600, showing an increase of £274,81*6 over th«t of tho previous year. The expenditure last year was £1,812,182, as compared with £1,621,239 for tho preceding year. Last year's net profit was £812,118, as against £723,465 for the previous twelve months. The mileage open for traffic on March 31st, 1907, was 240G miles, as against 2400 a year previously. The capital coat of lines open for , traffic was L'23,50i,272. The net revenue, £Sl2,ilti, was equal to a return of 3.-15 per cent, on the capital invested in the open lines, end 3.19 per cent, on the total capital (.£-'.}, Ijs.oo'S) invested in open and unoi*N»ed lines. iiio tvanakawa Section has aga/n failed to pay actual wording expenses, the dohcit being £392. The number of tiuin miles run during tho year has b',c>o,4-j-t, being an increase oi 34i,0al miles over the previous year. The increased mileage represented additional facilities to meet requirements of the laige business done daring the year, and has cost The permanent increase to the train service represents 20,3/p miles per annum, lhe total number of ordinary passengers carried during the year was 9,000,780, being an increase of 774,404 over the total for the previous year. There had been increases in season, workers', and holiday excursion tickets taken out, but school, factory, and friendly society excursion tickets had decreased. Tho coaching and goods tr-attic showed substantial incroases, except in the grain traffic, which showed a decrease of 1551-tons. The average number of men employed was 10,8 ob, an increase of 1003. Tho report stated that a vigorous policy had been pursued in connection with the building of rolling stock in the Railway Workshops. This has resulted in three new cylinder-balanced compound tender engines, 00 new cars, 11 begie brake vans, 467 w«|ggons, equal in capacity to 1097 ordinary fourwheeled waggons, being constructed. in regard to tho cost of maintenance, tho report states:—"Works connected with the betterment of the lines have been vigorously pushed on during the last few years, and as a consequence the expenditure has shown an upward tendency. The condition of the lines to-day is, however, better than at any period in tho history of the colony, and the time may confidently be looked forward to when, as a result of the judicious expenditure that has been made in their betterment, the cost of maintenance will decrease. The cost of carrying out tho works and of maintaining the lines and. their equipment has been materially affected by the advance in the price of material and rate of wages." The sum of £308,893 was expended during the year on additions to open lines, and charged to capital account; other additions, costing £20,362, were charged to working expenses. The percentage of profit to capital on all lines for the year was 3.45, aa against 3.24 for the previous year. The percentage of working expenses to earnings was 69.00, as compared with 69 per cent, for the preceding 12 months.