RAILWAYS’ LOSS
£161,924 Last Year (N.Z. Press Association) WELLINGTON, May 22 The los' on New Zealand railways in the financial year entied March 31 totalled £161,924, compared with a loss of £62.759 for the previous year. The Minister of Railways (Mr McAlpine) said today that more detailed information on the railway operations for the year would be presented in the department’s annual report to Parliament Revenue earned by the railways for the year was a record. It reached £36,639,380, exceeding the previous year’s figure by £400,382 • Normal expenditure increased by only £65,000, but the additional payment of £434,000 for wage increases granted during the year caused over-all expenditure to rise by £499,547. The resultant operating loss for the year was £161,924, as compared with a loss of £62,759 for the previous year. Tonnage hauled during the year was 10,800,000.
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Bibliographic details
Press, Volume CI, Issue 29829, 23 May 1962, Page 4
Word Count
139RAILWAYS’ LOSS Press, Volume CI, Issue 29829, 23 May 1962, Page 4
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