EARNINGS OF RAILWAYS

New Zealand Herald, Volume LXIV, Issue 19607, 8 April 1927, Page 13

EARNINGS OF RAILWAYS

LOWER FEBRUARY RETURN. RESULTS FOR 48 WEEKS. CONTRACTION OF £96,694. [by telegraph.—own correspondent.] WELLINGTON, Thursday. A working profit of £183,823 is shown by the Railway Department's accounts for the four weeks ended March 5. For the corresponding period last year the profit was £220.155. Accounts have now been published for 48 weeks of the financial year—actually 329 days. The total amount earned toward the payment of interest and other charges is £1,332,436. For the corresponding period of last year (333 days) the net earnings were £1,429,130, so that there has been a decrease of £96,694. According to the last Budget the contribution due by the department in respect of interest on the railways capital liability/for the year is £2,050,000. The receipts during the last month comprised £386,789 from North Island railways, £269,202 from the South Island railways, and £40,333 from miscellaneous services. The total of £696.324 shows a decline of £52,158 in comparison with the corresponding perod of the previous year. Expenditure was £275,093 in respect of the' North Island railways, £209,870 in the South Island, and £27,538 on account of miscellaneous services. The total of £512,501 is lower by £15,826 than for the February period of 1926. Following is a summary of the net revenue for the 12 periods of the financial year:—

Totals £881,924 £233,321 £217,191 £1,332,436 * Excess of "Working Expenses, operating revenue in the North Island for the 48 weeks has contracted to the extent of £164,531,. while that from the South Island railways has increased by £46,195. Net receipts from miscellaneous services havo also increased by £21.642.

Period North South Other to Island. Island. Services, Totals. £ £ £ . £ May 1 123,709 92,008 30,690 251.407 May 29 58.123 23,805 12.531 94,519 June 27 50,069 10,080 13,061 ■73,210 July 24 36,530 *12,559 17,930 41,901 Aug 21 29,735 *1,762 14,016 41,989 Sept. 18 42,169 *7,81.7 13.704 48.056 Oct. .16 23.073 *16,602 19,159 25,630 Nov. J3 57,702 *9,989 16,413 64,125 Dec. 11 84,043 8.053 21,012 113.108 Jan. 8 129,273 40,088 24,302 193,663 Feb. 5 130.802 48.623 21,579 201.004 Mar. 5 111,696 59,332 12,795 183.803