RAILWAY REVENUE

Evening Post, Volume CX, Issue 117, 14 November 1930, Page 10

RAILWAY REVENUE

A FURTHER DECLINE

"DUE TO DEPRESSION"

SIX MONTHS' FIGURES

The railway working account figures for the first six months of the current financial year, published in last night's "Gazette," show a declino of about £100,000 in net revenue as compared with the corresponding period last year. The revenuo for the six months fell by £169,284, but expenditure was curtailed by £69,626. Tho detailed figures are as follows:—

At' the same time there was a docrease of 156,896 in the number of passengers carried. Railway motor road services carried 92,(510 more passengers than in the corresponding period of 1029-30. The combined services thus lost 64,280 passengers.

IMPROVEMENT ANTICIPATED,

Commenting to-day on the figures in the '' Gazette," the Minister of Railways (tho Hon. W. A. Vcitch) said ho had re-examined them this morning, and while the unexpected fall in revenue would undoubtedly affect the finances of the railways at the end of tho year, there was every reason to believe that the economies already adopted, amounting to £150,000, plus thoso still under consideration, would enable the Department to show the reductions of expoiidituro it was aiming at. Later in tho year they hoped to show better figures than had been revealed for the opening months, because the economies that were being put into operation would have fuller effect during tho remaining months of the financial year. "To stop the increase in tho railway deficit," said Mr. Veitch, "required no mean effort, apart altogether from tho [question of reducing it. That has been definitely accomplished, in the face of a fall in revenue, and the reduction of i the deficit is developing." In the last three months we havo cut the expenditure down by £1130,000. The general trade depression throughout tho country has reduced our revenue very considerably during the last three months, but there is a feeling abroad.now that trade conditions are beginning to improve, and it is reasonable to assume that tho railway revenue will get its share of any reaction that takes place in that direction. Whether that proves to be the case or not, obviously the right thing for us to do is to cut down expenses in every direction where it is reasonably possible to do so without disorganising the1 service to the public."

Revenue Expenditure 1929. £ 4,171,603 3,903,357 1930. £ 4,002,319 Dec. £ 169,2S4 69,626 2GS,24.6 16S,58S 99,C5S