RAILWAY LOSSES.

Manawatu Standard, Volume L, Issue 206, 28 July 1930, Page 6

RAILWAY LOSSES.

DECLINE FOR TWELVE WEEKS. WELLINGTON, July 27. A loss of £4027 on the operation of the Railways Department is shown by the account for the four weeks ended June 21. In the corresponding period last year revenue exceeded working expenses bv £52,599. The gross revenue for the month was £577,611, a decline of £17,960, while working expenses increased by £38,666 to £581,638. There was a loss in the North Island of £13,847, as against a profit of £19,312 last year, while the loss of £8615 in the South Island compares with £II,BBB of net revenue last year. Miscellaneous receipts provided a balance of £18,435 (as against £21,399) to set against the loss on railway operations.

For the 12 weeks of the new financial year net revenue has been £201,377, which is £80,333 less than last year. The total comprises £68,761 from the North Island railways, a decrease of £51,437 ; £63,751 from the South Island railways, a decline of £39,790; and £68,865 from miscellaneous services, an increase of £10,894. The contraction of net revenue to a decline in revenue of only £7211 and an increase in working expenses of £73,132.