RAILWAYS REVENUE
THE YEAR’S INCREASE. Long-standing records had been shattered by the railway returns for the financial year ended March 31 last, said the Minister of Railways (Mr. Semple).
Gross revenue had reached the £11,000,000 mark for the first time in the history of the railways, said the Minister, and net revenue stood at approximately £1,694,724, over half a million pounds in excess of the preceding year’s balance, and £61,000 more than the record net earnings produced in 1926. Expenditure was £9,465,575, a rise of £455,536 on the previous year, but net earnings increased by £505,693 on 1939-40. Another record would be found in the goods and live stock tonnage carried during the year, and although complete figures were not yet available it was evident that that traffic would have totalled well over 8,000,000 tons, compared with the 1930 record of 7,788,973 tons. Dealing with the figures in detail, Mr. Semple pointed out that the ratio of expenditure to gross revenue declined from 88.34 per cent, in 1939-40 to 84.81 per cent, in the last year, a very pleasing improvement of 3| per cent.
In conclusion Mr. Semple paid a tribute to the work of the officers of the department and expressed confidence in the future of the railway system in New Zealand.
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Greymouth Evening Star, 28 April 1941, Page 4
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213RAILWAYS REVENUE Greymouth Evening Star, 28 April 1941, Page 4
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