EARNINGS OF RAILWAYS.

New Zealand Herald, Volume LXVIII, Issue 20981, 18 September 1931, Page 11

EARNINGS OF RAILWAYS.

WORKING LOSS IN AUGUST. HEAVY FALL OF REVENUE. LOWER MARGIN FOR INTEREST. [BY TELEGRAPH.— OWN CORRESPONDENT.] WELLINGTON, Thursday. Contraction of revenue greater than the reduction of expenses is agnin shown ill the railway working account, for tlio four weeks ended August 15. tho net, result being n. loss on operation of £31,547, which is nearly £II,OOO greater than <he loss in the corresponding period of last year. Economies in railway operations, including tho suspension of tho daylight express trains in the North Island and reduction of tho service between Christchurch and Invercargill, were introduced on July 13 last year; the account for the four weeks ended August 16, the first full period under the new conditions, showed a decline in earnings of £52,272, as against a reduction in expenses of £35,824. This year's account for JulyAugust shows earnings totalling £419,171, which is £100.334 less than last year, against expenses amounting to £450,718, a reduction of £89,393. Operating revenue in the North Island has fallen by £57,094 to £222,722, while expenses at £245,969 are £41,952 lower. The operating loss is consequently increased by £15,142 to £23,247. A slight improvement is shown by the South Island returns. Revenue was £146,269, a decline of £36,258, but expenses were reduced by to £177,023. The loss on operation was £30,754, or £2967 less than last, year. Net revenue from miscellaneous services was £22,454, an increase of £1223. Following is a summary of tho net results for corresponding periods of four weeks in tho last three years: Period to 35»31. IMO- 19 " 9 ,;. r April -5 .. £1 22.270 X' 0,.^5 Mav 23 . „ 84,474 So.IJi June 20 .. 32,522 '4 OT7 M.599 fnlv IS . *23.223 7,1i02 8,079 Aug. 15 .J *31.547 *20,590 '4,1-16 Totals ..£151.972 £173.17!) X2G8.953 *Loaa on operation. Tho total net revenue for 20 weeks comprises £18,433 from the North Island railways (as against £47,601 last year); £12.907 (as against £10,156) from the South Island railways and £120.632 (as against £115,422) from miscellaneous services.