RAILWAY OPERATIONS.

New Zealand Herald, Volume LXVII, Issue 20721, 14 November 1930, Page 12

RAILWAY OPERATIONS.

CONTRACTION OF REVENUE. EXPENSES AGAIN LOWER. GAIN OF £IBOO IN FOUR WEEKS. [BY TELEGRAPH. —OWN CORRESPONDENT. ] WELLINGTON, Thursday. A heavy contraction of revenue was balanced by a slightly greater reduction of expenses during the four weeks ended October 11, according to (lie working account of the Itailways Department. The result for the month was a loss of £19,299, or £1837 less than in the same period last year. The gross receipts were £504,112, a decline of £66,816, and the expenses were reduced I>v £68,653 to £523,411. 1 his was the third period of operation under the programme of economies in services introduced on July 13. Each account has shown, in comparison with last year, a shrinkage in both revenue and expenditure, a summary for the three periods being as follows : I'everuie Expenses Net Decrease. Decrease. Loss. August 1G . . £52,272 £35.fi24 £16.448 September 13 51,23!) 45,547 5X92 October 11 . CG.BIC G8.C53 * 1.837 Totals .. £170.327 £130.021 £20.303 "Net gain. A similar comparison of (ho railway operating account, alono shows a retrogression of £27,916 in the 12 weeks, the not receipts from miscellaneous services having increased by £7600. In tho last period, railway operating revenuo declined by £65,024 against a reduction in expenses of £03,843. The gross receipts from flic North Island railways in Iho September-Octo-ber period were £263,460, a decline of £33,772, and tho expenses were £276,390, a reduction of £36,783. There was a loss on working of £12,930, as against £15,941 last year. Tho South Island railways earned £180,235, a reduction of £31.252, while expenses were reduced by only £27,060 to £212,292. Tho loss on working was consequently £32,057, as against £27,866 last year. .Net revenue from miscellaneous services increased by £3OIB to £25,688. Following is a summary of tho net results for the corresponding periods of four weeks in the last Ihreo years:—. 1930. 1929. 1923. April 2? ..£122.270 £107,305 £130.221 May 21 .. 83,134 121,74 0 515,200 .Tunc 21 , . *4,027 52,599 54,194 July 10 '7.002 *8,679 25.200 Aujrust 10 .. *20.590 *4,148 34.032 September 13 ~ • 14.-707 20,398 42.081 October 11 .. *19,290 *21,13G 25.273 Totals . . £108,58(5 £208,246 £400.207 •Loss oil operation. Tho total revenue for 28 weeks has been £4,002,318, which is £169,285 less than last year; tho expenses, amounting to £3.833,731, are less by £69,626. Iho net revenue to date comprises £40,928 from tho North Island railways, as against £124,306 last year, and £163,000 fiom miscellaneous services, as against £141,316. Tho operating result of the South Island railways has.been a loss of £35.341, as against a profit last vcar of £2624.