EARNINGS OF RAILWAYS

New Zealand Herald, Volume LXX, Issue 21596, 14 September 1933, Page 10

EARNINGS OF RAILWAYS

GROSS REVENUE LOWER COMMENT BY CHAIRMAN 1 [BY TELEGRAPH —PRESS ASSOCIATION] WELLINGTON, Wednesday The chairman of the Railways Board, Mr. H. H. Sterling, announced to-day tho preliminary figures for the working railways for tho four-weekly period ondod August 19. Both expenditure and revenue show only negligible variations compared with last year, tho figures being:—Expenditure, increase, £185; revenue, decrease, £2583; making the net revenue for the period £2773 less than for last year.

For the period of tho financial year from .April 1 to August 19, revenue shovvoa a decrease of £12,016 and expenditure a decrease of £44,604, making the increase in net revenue £32,588. Mr. Sterling observed that the decrease in gross revenue for the month was a little disappointing, although the amount of the variation, £2588, on a turnover for the period of over £500,000, could hardly bo regarded as having any great significance. Compared with the rates of decrease in revenue that had been experienced in tho' last two years, the smallness of tho amount afforded some justification for holding that tho revenue position was stabilising. The cessation of the decrease in expondituro also served to show that the costs had now been reduced to an approximate minimum. It was gratifying to note that for the portion of the year to date, the net revenue was still showing on tho light side as compared with last year.