RAILWAY EARNINGS LOWER

New Zealand Herald, Volume LXVII, Issue 20626, 26 July 1930, Page 12

RAILWAY EARNINGS LOWER

WORKING LOSS IN JUNE

GROWTH OF EXPENSES

[by telegraph.—own correspondent,

ELLINGTON", Friday

A loss of £4027 on (he operations of the Railways Department is shown bv the account for the four weeks ended June 21. In the corresponding period Inst year revenue exceeded working expends bv £52.599.

The gross revenue for the month was £577,611. a decline of £17.950, while voting expenses increased bv £33.665 to £581.653.

Ther was a loss in the North Island of £13,847, as against a profit of £19,312 last year, while the loss of £8615 in the South Island compares with £II,BBB of net revenue last year. Miscellaneous receipts provided a balance of £18.435 (as against £21,399) to set against, the loss on railway operations.

Tor the 12 weeks of the new financial year net revenue has been £201.377, which is £80,333 less than last year. Tha total comprises £68.761 from the North Island railways, a. decrease of £51,437; £63,751 from the South Island railwavs, a decline of £39,790; and £68.865 from miscellaneous services, an increase of £10.894.

The contraction of net revenue is due to a decline in revenue of only £7211 and an increase in working expenses of £73.132.