FURTHER PROGRESS.

New Zealand Herald, Volume LXIX, Issue 21099, 5 February 1932, Page 11

FURTHER PROGRESS.

EARNINGS OF RAILWAYS.

LARGE GAIN IN DECEMBER.

CURTAILMENT OF EXPENSES.

[BY TELEGRArrr. —OWN CORRESPONDENT.] "WELLINGTON. Thursday. By a reduction of expenses greater than the decline in revenue, the working account of the Railways Department for the four weeks ended January 2 shows an improvement, over the return for December, 1930, of £28,782. For the 40 weeks of the financial year, the working profit is nearly £67,000 greater than in 1930. During the first 24 weeks of the financial year, revenue declined by £633,734, and expenses by £611,335, so that there was a loss of £22,399 in net revenue. The lower scale of passenger fares came into operation on September 20, and at that time the economy measures began to produce visible results. For the last four periods of four weeks, comparison of receipts and expenses with those of 1930 shows tile following results:— Decreases in lievenue. Expenses. Gain. October 10 . . £78.248 £100,704 £22,450 November 7 . . 71,415 99,524 28,109 December 5 . . 74,924 84,890 9,906 January 2 . . 45,742 74,524 28,782 Totals . . £270,329 £359,042 £69,313 The gross earnings in the latest period were £567,472, and the expenses £393,363, showing a working profit of £174,109. Operating revenue in the North Island was £311,603, or about £IB,OOO less than in 1930; expenses were £215,236, a decline of £29,500. The working profit was £96,367, an increase of £10,366 over that' for December, 1930, and £4434 more than in December, 1929. The earnings of the South Island railways were £190,869, which is £21,3(12 less than a year ago; expenses were £149,604, a decline of £36,192; and working profit consequently increased by £14,850 to £41,265. This was £13,406 better than in 1929. Net revenue from miscellaneous services was £36,477, an increase of £3066. Following is a summary of the net results for corresponding periods of four weeks in the last three years:— Period to 1931. 1930. 1929. April 25 . . £5)4,740 £122,270 £107,365 May 23 . . 84,471 83,131 121,746 June 20 . . 32.522 *4,027 52,599 July 18 . . *28,223 '7,602 *8,579 AUK. ID .. *31,547 *20,596 *4,148 Sept. 12 . . 13,513 14,707 20,398 Oct. 10 .. 3,158 *19,298 *21,136 Nov. 7 . . 25.738 *2,372 *23,518 Dec. i> .. 52,211 42,245 40,471 Jan. 2 . . 171,109 145,327 145,370 Totals £420,703 £353,739 £430.580 *Losb on operation. Revenue for the 40 weeks from April 1 to January 2 has been £4,772,606, compared with £5.676,669 in tho corresponding period of 1930, a decline of £904,063. Expenditure totalled £4,351,903, as against £5,322,880, a decline of £970,977.