RAILWAY POSITION IMPROVES

Horowhenua Chronicle, 14 July 1933, Page 5

RAILWAY POSITION IMPROVES

REVENUE INCREASING—EXPENSES DECREASING.

(By Telegraph —Press Association.) WELLINGTON, Friday.

Mr IT. IT. Sterling, Chairman of the Railways Board, says the preliminary figures of operating results for the four-weekly period ended June 24, shows as compared with the corresponding period last year an increase in gross revenue of £9816 and a decrease of expenditure £2208, making an increase of net revenue of £12,024.

Taking the results for the portion of the financial year from April Ist to June 24th, the gross revenue decreased by £21,402 and the expenditure decreased by £40,780, giving an increase in net revenue for that portion of the year of £19,378. He was particularly gratified with the increase of £9816 in the gross revenue for the four-weekly period. In the previous four-weekly period, he interpreted the small decrease of £9OO as indicating a steadying-up in the decrease in revenue and then felt justified in concluding that there were indications of a more stable position in the revenue returns. The fact that the following period showed the figures above-mentioned seemed to afford some confirmation of this view and was a distinctly hopeful sign.