RAILWAY EARNINGS

Manawatu Standard, Volume LIV, Issue 291, 6 November 1934, Page 8

RAILWAY EARNINGS

AN INTERESTING ANALYSIS. Per Press Association. WELLINGTON, Nov. 6. The chairman of the Railway Board (Mr H. H. Sterling) announced to-day the result of the working to October 13. Expenditure for the four weeks had increased by £92,055 and revenue by £26,367, resulting in a decrease of net revenue of £65,688. For that jxirtion of the financial year from April 1 expenditure had increased by £212,048 and revenue by £202,145, resulting in a decrease of net revenue of £9903.

Mr Sterling explained that the abnormal expenditure was due to the fact tliat the whole of the 5 per cent, increase in salaries and wages, which became operative from April 1, was paid out in this last four-weekly period, the sum being £77,513. Adjusting the figures to allow for this amount, the expenditure showed an increase of £14,542 and revenue an increase of £26,367, an increase of net revenue on this basis of £11,825. * Similarly, adjusting the figures from April 1, the increase in expenditure would be £134,535, giving an increase of net revenue as compared with the last financial year of £67,610.

Mr Sterling remarked that the indications are that the net revenue for the full year will be not only equal to the last financial year, but will go a long way towards meeting the additional amount required for the increase in salaries and wages, yliich for the year will be approximately £175,000.