EARNINGS OF RAILWAYS

New Zealand Herald, Volume LXVI, Issue 20199, 8 March 1929, Page 13

EARNINGS OF RAILWAYS

THE JANUARY RETURNS.

GAIN IN NORTH ISLAND.

YEAR'S REDUCTION ONLY £19,000. [BY TKLEGHAPH. —OWN CORRESPONDENT.] WELLINGTON. Thursday. An increase in working profits is shown by the Railway Department's accounts for the four weeks ended February 2. The amount was £172,252. as compared with £168,837 in the corresponding period of last year. For the 44 weeks of tho current financial year, the excess of receipts is £935,031, as against £954,384 last year, and £1,148,613 in 1926-27. The gross receipts during the four weeks covered by (ho latest return were £696,838, an increase of £3049, while working expenses amounted to £524,586, which is £366 less than last year. The improvement in working profits lias been wholly gained from the North Island operating account. Receipts were £393,251, an increase of £3544, while expenses, £270,406, show a reduction of £9292. The working profit is therefore £12,836 higher. Revenue from the South Island railways has fallen by £8439, to £245,488, while expenses have increased by £694 to £215,384. The decline in working profits is £9133. There is also a small reduction of £2BB iri net revenue from miscellaneous sources. Following is a summary of tha net revenue for the 11 periods of the current financial year:— North. South. Other Island. Island. Services. Total. April 28 .. £71.260 £34.772 £24,169 £130.221 May 26 . . 44,917 32.398 17.945 95.260 June 23 .. . 32.037 5.995 16,161 45.193 •Tulv 21 .. 10,688 *6.883 21.101 25,206 A lie. 18 .. 22,221 *2.105 13.917 34.032 Sent. 15 .. 37.777 '10,429 14,733 42.081 Oct. 13 . . 23.(510 *18.962 20.595 25.273 Nov. 10 . . 40,979 *16,853 15,727 39,853 Dec. ft .. 84,723 13,257 1G.1J07 111,286 .Tan. 5 .. 124,307 51.563 26.502 202.372 Feb. 2 .. 122,845 30.101 19.303 172.252 Totals . . £'615.394 £112,857 £206.780 £935.031 *E..cess of working expenses. The reduction of £19,363 in the net revenue for tho 44 weeks comprises £21,440 in respect of (lie North Island, and £6281 in respect of the South Island railways, against which miscellaneous services have increased by £8368. The. working profits from tho Norfli Island railways in (ho last three periods have been £331.875, showing an increase of £23,525 over the corresponding period of last year.