RAILWAY REVENUE

Hawera Star, Volume LIV, 24 April 1935, Page 6

RAILWAY REVENUE

Salary Restorations and .Rents Absorb Big ■< Sum r INCREASED GROSS RETURNS ESTIMATE WELL EXCEEDED

(By Telegraph—Press Association.) "WELLINGTON, To-day.

The chairman of the Railways Board, Air H. H. Sterling, announced to-day the preliminary figures of the fourweekly period to March 31. There was a revenue increase of, £7275 and a decrease in expenditure of £37,875 compared with the corresponding period of last year. For the whole year the revenue shows an increase of £295,162 and the expenditure an increase of £293,452, leaving a balance irr the .net revenue of £l7lO. The expenditure .figures include, the cost of , the .5 per cent, restoration of salaries, amounting to £150,000, and rent adjustment amounting to approximately £30,000. .Also approximately £IOO,OOO additional has been put into the maintenance of railway property, a good deal of which had been devoted to providing a still higher standard of facilities vice.

A gratifying feature was the increase maintained in the gross revenue, the year just closed showing an increase of £295,1(32, making an increase of £600,000 in the past two years. The Budget estimate of revenue was £0,356,970, and this was exceeded by £270,903.