RAILWAY FINANCES

Evening Star, Issue 23422, 13 November 1939, Page 6

RAILWAY FINANCES

REVIEWED BY MINISTER INCREASE IN NET EARNINGS BUDGET ESTIMATE FOR YEAR An indication of the public’s response to the efforts made on their behalf by the Government to provide a modern railway service was given by the Minister of Railways (Hon D. G. Sullivan) during the course of his official address when opening the new railway passenger bus service terminal in the city this afternoon. The Minister also referred to the railways development on sound lines from a traffic and revenue earning point of view. “ The latest financial results of the •Railway Department’s operations, covering the first 28 weeks of the current financial year from April 1 to October 14. 1939, show an increase of £934.000, or nearly one million pounds, compared with the corresponding period in the peak year of railway revenue prior to the depression,” the Minister stated. “ The gross revenue, amounting to £5,018,000, is actually greater than that earned by any corresponding period in the history of our railways. “ Compared with the earnings for the first 28 weeks of last year, the increase is £460,000. Goods tonnage handled up to October 14 increased hy_66,000 tons and goods revenue by £295,000. Passenger journeys increased by 206.(XX) and passenger revenue by £46,000. Parcels and luggage increased by £IO.OOO. refreshment returns increased by £3,500. book stall returns increased by £4.000, road services returns increased hv £67,000. and miscellaneous revenue inci'eased by £34,000. HIGHEST FOR DECADE. “The net revenue for the current year to date amounts to £192,000. an improvement of £272,000 over that for last year. The Budget estimate for The coming financial year is for a net revenue of £1,250,000 from the railways, and the satisfactory achievement <o far indicates that this figure, which represents the highest net revenue in the past decade, will be attained and may even be exceeded, notwithstanding the disturbed trading conditions caused by war conditions. “ I wish here to thank the General Manager of Railways, Mr 6. H. Mackley, and his officers for the very capable manner in which they have borne their share of the Government’s transport policy and for the efficient and pleasing manner in which they are carrying on the department’s work in the public interest.” he added. “ I feel sure that this new building will do much to help the development of tourist traffic in Otago and in the other provinces of the South Island. I believe that with the modern facilities the railways now provide there is greater inducement for New Zealanders to see more of their own country; and I feel sure that, as a result of the activities of your various local bodies and the Government departments most immediately concerned, the scenic charm of Otago and Southland are becoming better known to New Zealanders and attracting increasing attention from the people of many countries. “ Let me reiterate that the object of the Rail-ways Department is to provide services by rail and road that ensure easy and comfortable access to these resorts at reasonable rates,” he concluded. “I trust that this new passenger station may increase in importance with the further development of tourist travel, and that it may long servo usefully and well the city which it undoubtedly adorns.”