NEW ZEALAND RAILWAYS.

New Zealand Herald, Volume XLVII, Issue 14347, 18 April 1910, Page 6

NEW ZEALAND RAILWAYS.

The Hon. J. A. Millar, New Zealand's Minister for Railways, who has been looking into the system of Queensland's railway management, is now pursuing his inquiries in Victoria and South Australia. The Sydney Daily Telegraph of last Tuesday says:—"Mr. Millar has received cabled intelligence from New Zealand that the approximate earnings of New Zealand railways for the year ended March 31 were £3,250,000, with a working expenditure of, roughly, £2,200,000. These figures reduce : the ratio of working expenses to earnings (which has been the subject of a good deal of caustic criticism in New Zealand) from 72 per cent, for 1908-9 to 67 per cent, for 1909-10. The latter figure is still about nine per cent, higher than the recent average rate for all Australian railways. Mr. Millar estimates that the New Zealand percentage of profit to capital invested will for the past year be about £3 13s 6d. The actual average interest paid on the New Zealand public debt, including the railways loans, was by the latest calculation £3 14s 5d per cent., so that the railways do not yet quite pay expenses and interest. In New South Wales, of course, there is a large railway and tramway profit, and for Australian railways generally there is a small profit. The New Zealand Government d as not operate the tramways, which for the greatest part are owned municipally."