RAILWAYS ADVANCE.

New Zealand Herald, Volume LXVIII, Issue 21029, 13 November 1931, Page 10

RAILWAYS ADVANCE.

REVENUE IMPROVEMENT. REDUCTION OF EXPENSES. TOTAL PROFITS AHEAD OF 1930. [BV TELEIJnAT'H.—OWN COT:RESPONDENT. ] WELLING TON, Thi rsday. A working profit of £3158 is shown by the Railway Department's working account for the four weeks ended October 10. as against a deficiency of £19,293 in the corresponding period last year. This is the first account since June to show an improvement on last year's results; it is also the first account this year showing a better result than the corresponding period in 1929. The total working profits for (lie current financial year are now slightly ahead of the corresponding total in the previous year. Earnings during tho 28 weeks have been £3.290.337. a reduction of £711.982, and expenses have been £3,121,693, a reduction of £712,038. Tho gross receipts for the last four weeks were £425,865, which is £78,248 less than last year, while expenses were £422.707, a decline of £100,704. Earnings by the North Island railways were £225,249, a decline of £38,211, while expenses were reduced by £44,947 to £231,444. There was a loss on working of £6195, against £12.930 last year. Operating revenue from the South Island railways was £146,455, a decrease of £33,780; expenses were reduced by £47,438 to £164,854. The working loss was consequently reduced from £32,057 to £18,399. Net revenue from miscellaneous services increased by £2164 to £27,752. Following is a summary of the net results for corresponding periods of four weeks in the last three years:— Period to 1931. 1030. 19'20. April 25 . . £94,743 £122,270 £107,305 May 23 .. 84.471 83.134 121.740 June 20 . . 32,522 *4,027 52.599 July 18 .. *28.223 *7.602 *8.579 Aiij?. 15 .. *31.547 *20,596 *4,148 Kent. 12 .. 13,513 14.707 20,398 Oct. 10 .. 3.158 *19.298 *21,136 Totals .. X 168.044 £168,583 £268,246 'Loss on operation. The total net revenue for the 28 weeks comprises £13.153 from the North Island railways (as against £40,923 last year); a working loss on the South Island railways; of £17,061 (as againsfc a loss of £35.342 last year); and £172,552 from miscellaneous services (as against £162,999).