The Grey River Argus THURSDAY, August I7, 1944. RAILWAY REVENUE RECORD.

Grey River Argus, 17 August 1944, Page 4

The Grey River Argus THURSDAY, August I7, 1944. RAILWAY REVENUE RECORD.

In his fourth annual statement as Railways Minister, Hon. R. Semple, yesterday was able to reveal to Parliament entirely satis factory financial results. Despite the heavy goods and travel restrictions, the gross revenue for 1943-44, at £15,325,306, was a record, about 81 per cent., or £1,196,313 more than for the pre vious year; £410,500 was devoted to deferred maintenance, war time demands having worn out much extra equipment, ithe expenditure at £12.757,336, was up by £1,454,923, so that net revenue £2,567,970, was £258,610 less than in the year 1942-43, and the ne* return on capital at 3|- per cent. Was about three-quarters of that for Ithe preceding 12 months. Without the restrictions, the net return would have doubtless exceeded 1942-43. Coal consumption was a big factor in costs. In 1939-40 there was 490,000 tons of New Zealand coal purchased and last year 615,000 tons, \ while coal consumption last year was 29 per cent, more than in 1939-40. The staff position eased somewhat with the return to duty of the 16th. and 17th. Railway Companies. There are still 5,440 railwaymen with the Armed Forces, and the staff is still short of its pre-war strength by 2,123, or 8.24 per cent. While this gap remainsheavy demands will continue to be made on the employees. The revenue from both military fares and freights showed substantial increases, and fares from this source provided 34 per cent. o.i the total passenger revenue, while military freights provided over 9 per cent, of the total goods rev e'nue. Under Avar conditions, and apart from the restrictions, it cannot be expected that, the existing high level of traffic will be maintained, and this year the Minister forecasts a substantial revenue reduction to £.13,782,000, with expenditure at £12,282,000 Interest charges last year at £2,765,724 increased £141,301. while net revenue was £197,754 less than interest charges. There are 3,504 miles of lines operating, the capital cost of the whole system being new about £7l millions, or £2,314,000 more than in 1943 43. The total cost of all lines is £74,289,351. Ordinary passenger journeys exceeded 18,300,000, being 1.146,109 more than in tlu previous year. Total journeys were 38,611,267. The tonnage hauled, 9,026,626 tons, a new re cord, exceeded last year’s figure by 139,537 tons (1.56 per cent) The average haul increased from eighty-eight miles to ninety-turn miles, an increase of 4.55 per cent. Principal increases ;in freight revenue were in respect of fresh meat, £73,253; frozen meat, £24,860; root crops, £36,085; coal, £44,721; and general merchandise, £264,133. Operating charges pei. average mile of open lines were £605, against £704 the previous year, and £437 in 1941-42. N« operating earnings per train mile were 32.87 pence, compared with 37.98 pence in 1942-43, and 25.4 pence in 1941-42. Season tickets last year numbered 1,518,045, against 1,377,825 in the previous year. Live stock tonnage at 793,137, was less than for 1942-43 by 58,906 tons, but 54,022 tons more than in 1941-42. North Is land revenue was £4,507,000 gross and £1,730,000 net, while South U gross and £383,810 net. Nel revenue was £15,044, showing a deficit of £10.516. Goods revenue totalled £8,479,387, against £8,044,563 in the preceding period and passenger revenue £3,891,14b against £3,351,832. Subsidiary services returned £1,860,327, an increase of £146,414. Greymouth passengers numbered 169,810, oi whom 3,425 travelled first class, and there were 4,473 season tickets; Hokitika passengers 52,309 (636 first class); and Westport 51,033 (474 first class). Goods revenue returns included: Granity £116,560; Greymouth £68,207; Runanga £83,75/; Rewanui £67,363; Reefton £84,772; Westport £33,034; Hokitika £43,335; Ross £36,403 and Ngahere £74,660