THE RAILWAYS ACCOUNT.

New Zealand Herald, Volume LX, Issue 18296, 12 January 1923, Page 8

THE RAILWAYS ACCOUNT.

RETURNS FOR 36 WEEKS. NET REVENUE OF £417,920. [BY telegraph.— association.] WELLINGTON, Thursday. "Receipts exceeding working expenses by £78,730 are shown by the Railway Department's working account for the four weeks ended December 9. The net revenue for the period to November 11 was £79,765. Details for the various sections for the last period are: NORTH ISLAND. Receipts. Expenses. Whangarei . . .. £ 5.639 £ 9.190 Kaihu 621 556 Oisborne . . .. 3.152 2.385 Main lines and branches .. ..- 307,745 225.887 ■ Totals .. . . £317.358 £238.019 | SOUTH ISLAND. Receipts. Expenses. Main , lines and branches .. . . 162,299 1G2.157 Westland .. . . 11.539 13.238 Westport .. . - 7.283 5,672 Nelson 1.817 2.198 Picton «>. . . . . 2.825 2,745 Lake Wa-katipu steamers ...... 566 929 Totals . . . £ 186,332 £186,942 Grand totals . . £503.691 £424.961 The total revenue from April 1 to December 9 was £4,290,438 and $he expenditure £3,872,518, the working profit being £417,920.' For the corresponding period of 1921-22 the totals were:—Revenue, £4,432,027; expenditure, £4,458,400: 'showing a loss of £26,373. Following is a comparison of the net earnings or losses for the North and the South Island systems for each ■four weekly period to date, with the corresponding returns for last year:-— North Island. South Island. To 19-21. 1922. 1921. 1922. April 29 £53.047 £ 64.229 £ 10.432 £35.949 May 27 . 13.821 28.812 18.203* 20.849 June 24 13,333 15,716 23.405* 2.751* Jul-r 22 . 13.326* 9.205 35.798' 8.822* Auir. 19 9.493* 14.308 42,735* 4.979* Sept. 16 20.081 44.094 27.021* 3.431* Oct 14 . 35.270 46.493 36.977* 6,249* Nov 11 . 27,704 70.548 20.771* 9,217 Dec. 9 43.981 79.339 21,309* 610* Totals £189.414 £372.745 £2!5'.787*£45.173 "I-OSB. „ The capital invested in opened lines at March 31, 1922, was £39,309,097, and the cost of unopened lines at that date £5,380.651. Counting the interest charge on the cost of opened lines at 3| per cent., the amount for the current year will be £1,474,091. The expenditure on North Island railways was £19,391,080.- and on the South Island railways £19,363,326. The balance of £554,691 represents the department's stock of stores for construe: , works. If the latter item is divided equally between the two systems, the* amount to be earned by the North Island | railways to pay ' interest would be £737,566, and that to be charged against the South Island system £736,525.