EARNINGS OF RAILWAYS

New Zealand Herald, Volume LXI, Issue 18890, 12 December 1924, Page 12

EARNINGS OF RAILWAYS

RETURNS FOR 32 WEEKS. PROFITS SLIGHTLY HIGHER. SOUTH ISLAND IMPROVEMENT. [BT TELEGBAPH. —OWN COBBESPONDENT. ~\ WELLINGTON. Thursdi.:.-. Working profits earned by the New Zealand railways during the 32 weeks of the present fino,ncial year, ended November 8, were £623,519, an increase of £8617 over the result for the corresponding period of last year. Of the total, £530,951, or 85 per cent., was derived from the North Island, this figure showing an increase of £10,791. Working profits from the South Island were £92,568, which is less by £2174 than last year. The receipts for the four weeks ended November 8 were £533,386, and the working expenses £434,446, showing a net return of £95,940, as against £100,803 last year. TV decline has occurred in the North Island, for while earnings, £327,994, ware higher by £9470, working expenses, £286,928, show an increase of £20,115, so that the net return is lower by £10,645. On the other hand, the South Island increased its earnings by £13,056 to £205,392 ancf its working expenses by £4274 to so that the net return was £8762 greater. Fallowing is a comparison of the net earnings or losses for the North and the South Island systems for each period of four weeks, with corresponding returns for test year: — North Island. South Island. . 1923-24, 1924-25 1923-24 1924-25 ££. £ £ April 26 . 76,323 71,973 31,874 47,605 Moy 24 . 76,936 81,238 23,567 18,371 June. 21 . 68,807 62,813 34,801 15.116 July 19 . 4u,863 51,411 '2.896 '7,115 Aug. 10 . 38,126 42,628 '7,996 '8,174 Sept, 13 . 67.734 69,718 7,604 10.535 Oct. 11 . 69,660 70.203 *1,804 '1.844 Nov. 8 . 91,711 81.066 9,092 17.874 Totals £520.160 £530,951 £94,742 £92,568 'Loss on working. Following is a summary for corresponding periods of the two years of the revenue and the expenditure:— REVENUE. 32 weeks. ' 1923-24. 1924-25. North .. £2.341,657 £2,399,756 South .. 1,675,982 1,681,523 Total . £3,917,639 £3,981,289 EXPENDITURE. North .. £1,821,498 £1.868,806 South .. 1,481,240 1,488,954 Total . £3,302,738 £3,857,760