N.Z. RAILWAYS

Grey River Argus, 19 February 1932, Page 5

N.Z. RAILWAYS

TURN OF TIDE ? Better Results Shown (Per Press Association) WELLINGTON, February 18. A statement regarding the position of railway finance was made to-day by Mr P. G. Rousell, General Manager. ‘“The latest railway figures are for the four weeks ended 30th January, and they show an improvement in the net revenue of £24,810,” said Mr Rousell. “The results of the operating for the 44 weeks of the current financial year—i.e., from Ist April, 1931, to 30th January, 1932 —show a net revenue of £530,946 against £439,803 last year. The improvement in net revenue for the 44 weeks of the current financial year, as compared the cor responding of term last year, is therefore £91,143.

“As working expenses last year for the same 44 weeks amounted to £5,833,212, and this year to £4,759,202,” continued Mr Rousell, “it will be seen that the net decrease in the working expenses of the Department now arc wel lover £lOO,OOO, the actual figures being £1,074,010. Our revenue is still showing- evidence of the effect of the depression, the four weekly amount being £78,627 less than for the same period last year, but the decline is considerably less than the average decline taken over the whole 44 weeks of the year. To date it is £982,867, while the decrease in the total expenditure of £1,074,010 has enabled tho Department to Show the net improvement indicated above, xiz., £91,143.

“Almost the whole of this improvement has been produced in the last four months, and the results certainly give some assurance of future stability.”