NEW ZEALAND RAILWAYS.

Hawera Star, Volume XLVI, 6 August 1926, Page 3

NEW ZEALAND RAILWAYS.

A PROFITABLE YEAR

MINISTER’S STATEMENT TO THE HOUSE.

The annual statement of the Minister of Railways, the fourth brought down by the lit'. Hon. J. 0. Coates, was laid on the table of the House' of Representatives yesterday afternoon. The figures show a net revenue amounting to £1,992.333, which is equal to 4.35 per cent, on the -capital invested in lines open for traffic, including expenditure on railway improvement works which have not yet reached the stage when they are revenue producing. Included in the revenue is £359,540 paid from the Conso'idated Fund in respect of services performed by the Department in working developmental lines. After paying interest charges at the rate of £5“ 3s 9d per cent, on capital raised under the provisions of the Railwavs Improvement Authorisation Act, 1914, and £4 2s 6d per cent, on all other capital moneys, there remains a surplus of £21,022. The following is' a summary of the results of the working for the year ended March 31, 1926, -as compared with 1925, the 1925 figures being given in parentheses:— Total miles open for traffic, 3138 (3085). Average miles open for year, 3103 (3067). Capital cost of opened and unopened lines, £53,711,455 (£50,833,500). _ Capital cost of open lines, £47,608,676 (£44.570,746). Capital cost per mile of open lanes, £15,172 (£14,448). Gross earnings, £8,460,762 (£7,276,761). Working expenses, £6,468,428 (£5,709,653). Net earnings £1,992,334 (£1,567,109). Interest charges, £1,913,311 (£1,654,845).

Appropriation for betterments, £58,000. Unappropriated surplus. £21,023 (deficit £87,736). Percentage of total _working expenses to gross earnings', 76.45 (78.46). Percentage of nett- earnings to capital invested, 4.35 (3.55). Railway operating earnings. £7,559,274 (£7.014,649). Railwav operating expenses, £6,164,571) (£5.533,136). Net railway operating earnings. £1.424.704 (£1,481.513). Percentage of luilwav operating expenses to earnings, 81.23 (78.88). Ope rati no- earnings per average mile open, £2446 (£2,287). Operating expenses per average mile open, £1987 (£1804). _ Net operating earnings per average mile open. £459 (£483). Operating earnings' per train mile. 176.01 d (185.33 d). Operating expenses per train, nine, 143.37 d (146.19 d).

Net operating earnings per train mile, 33.14 d (39.14 d). Passengers, ordinary, 11,813,480 (12,424,012).

Season tickets, 600,292 (537.554). Total passenger journeys, 27,653,414 (26.106.859). Goods tonnage, 6.808.603 (6,606,60*). Live-stock tonnage, 447.539 (430.852). Train mileage, 10.319,407 (9,083,623). Engine mileage, 14,657,039 (12,854,287).' For tbe current year the Minister an t inmates the revenue will reach £8.250.000, and the expenditure £6,475,766.