RAILWAYS REVENUE

Greymouth Evening Star, 22 March 1935, Page 14

RAILWAYS REVENUE

MR STERLING’S REPORT.

[PEB PBESS ASSOCIATION.]

WELLINGTON. March 21.

The Chairman of the Railways Board (Mr Sterling) announced to-day preliminary figures showing the financial results of the working of railways for a portion of the financial year up to March 2, 1935.. For the four-weekly period which ended on that date, the gross revenue had increased by £46,951, while the working expenses increased by £21,971, resulting in an increase in nett revenue of £24,980 when compared with the corresponding period last year. For the portion of the financial year up to March 2, the gross revenue showed an increase, of £287,875, while the expenditure showed an increase of £331,594. The nett result to date mentioned was a decrease in the 'nett revenue by £43,719, compared with the previous year. Included in the working expenses was the cost of the 5 per cent restoration of wages and salaries, and the cost of rent adjustment, which had been made during the year. The aggregate of these items to March 2 was approximately £166,000. There was one more period to go before the year ended, said Mr Sterling, and he felt very sanguine that the forecast which he had made some months ago, that the Department would be able to carry the increased expenditure in which it had been involved and at the same time return a nett revenue equal to that of last year, would bo realised.

SUPERANNUATION BOARD. WELLINGTON, March 21. The election of the following as members of the Government Railways Superannuation Fund Board has been gazetted: — Mr. Louis Vincent Carmine (representative of the First Division in the North Island). Mr. James Stanley Roscoe (representative of the First Division in the South Island). Messrs. Ernest John Dash, Michael Connelly and Job Elliott (representatives of the Second Division of both Islands).