RAILWAY FINANCE

Dominion, Volume 24, Issue 19, 17 October 1930, Page 10

RAILWAY FINANCE

Retrograde Movement RETURNS FOR HALF-YEAR Decrease of £102,468 FIRST FRUITS OF ECONOMY The retrograde movement in the railways finances still continues as shown by returns given in the “Gazette” published last night. For the period, April 1 to September 13 (almost the whole of the first half-year), revenue was down by £102,468 compared with the corresponding period of last year, earnings being £3,498,206 against £3,600,674. Expenditure in the same period showed the trifling decrease of £972, being £3 310,320 against £3,311,292 in the 1929 period. The result is that the net revenue is £187.886 against £289,382, a decrease of £101,496. It must also be remembered that the net revenue is computed without allowance being made for interest charges, the annual amount being £2,132,324. Obviously £187,000 is far from being a proportionate contribution toward the interest bill for the first half-year. Details of revenue and expenditure for the period April 1 to September 13, compared with the corresponding return for the period last year, were as follow: — 1930 1929 Dec. £ £ £ Revenue 3,498.206 3,600,674 102,468 Expenditure . 3,310,320 3,311,292 972 Net .. revenue £187,856 £289,352 £101,496 The returns for the four-weekly period ended September 13 make better reading, although they are far from satisfactory. Revenue shows the heavy decrease of £51,238, but expenditure has been cut by £45,546, no doubt due to the economies and restricted services recently enforced by the Minister of Railways. Even so, the retrograde movement has not been arrested, for net revenue is down by £5692 compared with the corresponding period last year. It should also be noted that the margin between revenue and expenditure is very small when considering the large sums involved. Details of the revenue and expenditure for the four-weekly period ended September 13, with the figures for the corresponding period last year, arc as follow: — _ 1930 1929 Dec. £ £ £ Revenue .. 547,312 598,500 51,238 Expenditure . 532,605 578.151 ' 45,546 Net Revenue £14,707 £20,399 £5,692