RAILWAYS

Evening Star, Issue 19002, 25 July 1925, Page 3

RAILWAYS

FINANCIAL POSITION IMPROVED,

The gross receipts from the working railways amounted to £7,112,524, an increase of £128,313 on the previous year’s figures. The working expenses amounted to £5,545,416. The net receipts were therefore £1,567,108, which amount represents a return of £3 11s per cent, on the capital cost. These are departmental figures prepared on a commercial basis, and while they do not agree with the cash figures shown in the Consolidated Fund Ordinary Revenue Account they can he reconciled with them.

The conditions early in the year were adverse to good results, and receipts were also affected later in the year by the infantile paralysis epidemic. The department’s revenue has also been affected to some extent by motor competition. The inauguration of a commercial branch, and the appointment of business agents under the direction of a commercial manager, has had the effect of meeting this competition to a great extent. Extensive floods and slips during the

year have also caused a serious loss to the department. The improvement in the financial position is the outcome or the economies effected during the year and the active promotion of business. The board estimates the revenue for the ensuing year as £7,700,000, and the expenditure £6,200,000.