THE RAILWAYS.

Hawera Star, Volume XLVII, 9 August 1928, Page 10

THE RAILWAYS.

LOSS ON YEAR’S WORKING.

DECREASED EARNINGS; INCREASED INTEREST -CHARGES

(Special To The Star.)

WELLINGTON, Aug. 7

“The railway revenue was £8,034,970, and -the working-expenses £6,685,123, leaving a net revenue of £1,349,-'st-ate's the Minister of Finance in iiis Budget speech. “Assistance to developmental lines (paid and accrued) amounted to £489,568, making £1,839,415 available to meet interest charges of £2.130,867. The result of 'the year’s operations was, therefore, a loss of £291,452. “In comparison with the previous year the revenue showed a net increase of £45,537, a decrease in passeniger traffic receipts of £158,884, being more than offset by increased revenue from carriage of goods and other items. “Working-expenses showed a comparative increase of £194,243, the principal -contributing factors being the greater mileage,'of line worked, the increase in goods traffic,.-and the improvements and additions to passenger services’by rail/'anti road. “The net earnings of t-he railways, apart from the assistance t.o certain lines, thus decreased by £145,706, while interest eh urge's increased by £87,434. Unless these opposite tendencies can be checked it is evident that the taxpayer will have -to bear increased burdens in the future. “The assistance to branch lines and isolated -sections has- increased from £359,540 in 1925-26 to £489,56-8 if-or 1927-28. ’ ’