THE RAILWAYS.

Press, Volume LIV, Issue 16208, 10 May 1918, Page 6

THE RAILWAYS.

A SUCCESSFUL Mil. * (PRESS ASSOCIATION TKLECJUII.I WELLINGTON, May 0. {tj The Minister of Railways repofU Yji another successful year. The grß4fc,',f revenue for tho twelve months endtfci March 31st, 1918, was £4,087,700, against a gross revenue of for the J-ear ended March 31st; and is £487,700 above tho estimate. • Tho expenditure Was £9,042.906,0 m agaitist £2.920,804 for 1917, or £99,408 m excess of tho estimate. The creased expenditure is largely due \i<f the war bonus to the otnpldyoes, wktrfi [yM was charged to a separate account in* ►S? the Consolidated Fuhd. .' /'-5F Tho net revenue for the yertr £1,044,794, agaihtet £1,873,358 ffir previous year, and £1,206,500 estimated iiH revcrltie. Thus thefo is sufficient to . girg an ajjbi-oxiniate return of £-l-12ft per cent, on the capital invested in working railways. i'it} Mfe ttiLEY'S TERM OF OFFICE. '.PRESS ASSOCIATION" TKI.ECH.UI.) >; WELLt.VtiTON, May 9. ' Tji Tlfe torm of office of Mr E. H. General Malinger of NfMv Zealand Railways, expires on .August Bth. Mr f .\ Hiley desires to return to tho Old Coup- '' try at the conclusion of liis tertn, but in " order to avoid n break in tho manage- U ment, under existing conditions, it has -■ "V been arranged liv the Minister that Ml" ■' Hiley shall eohlitluc in office tili tl)6 cud of the financial yenr. Tho question of his Rur-efissoi- will not be con- ; ,v. pi tiered at present.