RAILWAY REVENUE

Evening Star, Issue 21055, 18 March 1932, Page 8

RAILWAY REVENUE

MARKED IMPROVEMENT SHOWN [Per United Press Association.! WELLINGTON, Man-h 18. In a statement to-day tho Minister of Railways anouuced an improvement in the net revenue of tho railways of, roughly, £23,000 for the four-weekly period ended February 27, against last year. This, added to other gains hi recent months, made a total improvement of approximately £115,000 m the net revenue, from £554,000 to £659,000 for the forty-eight weeks. Tho decrease in the total revenue so far . was £1,037,000 —from £6,882,000 to £5,845.000—but this bad been more than offset by heavy reductions in expenditure, totalling £1,152,000. Tho decline in the gross revenue was accounted fop mainly by a heavy decrease in imports. A further cause had been the necessary reductions and other adjustments in fares and rates to enable the department to hold or increase certain classes of traffic. Tho result had been to maintain at a higher level than otherwise would have been possible the general volume of traffic passing over the railways.

In view of the steady improvement in recent months, he anticipated that the year would close with still further improvement in the net revenue position.