EARNINGS OF RAILWAYS

New Zealand Herald, Volume LXXII, Issue 22099, 3 May 1935, Page 12

EARNINGS OF RAILWAYS

DETAILS FOR PAST YEAR

HIGHER REVENUE SHOWN BUDGET FORECAST EXCEEDED [by TELEGRAPH OWN correspondent] WELLINGTON, Thursday The accounts of the Railway Department covering operations during the year ended March 31 were published in to-day's Gazette. As indicated by the chairman of tho board in a preliminary statement last week, they show a net revenue of £1,087,491, compared with £1,085,558 last year and a Budget estimate of £950,000. Following is a comparison of the accounts for the last two years, showing the results of the railway operation in the two islands and aggregate transactions in respect of other services:— NORTH ISLAND 1933-31 1934-35 Increase ] I? eve line ..£3.305,732 £3.457,350 £151,624 Expenditure . . 2.799.741 2.9G8.627 IG9,aS3 Net revenue.. £50(1,958 £488,729 *£18,259 SOUTH ISLAND Rcven i.j . . £2.323,103 £2,450,708 £127.605 Expenditure . . 2.078.402 2,109,961 91,559 Net revenue. . £244.701 £280,747 £36,046 OTHER SERVICES Revenue .. £703,876 £719,864 £15.98S Expenditure .. 370,007 401,849 31,842 Net revenue. . £333,869 £318,015 *£15,854 WHOLE SYSTEM Revenue . . £6,332,711 £6,627,928 £295,217 Expenditure . . 5,247,153 5,540,437 293,284 Net revenue.. £1.085,558 £1,087.491 £!,933 * Decrease. For the four-weekly period ended March 31 the net earnings were £164,728, as against £119,356 for the corresponding period last year, an increase of £45,372. The gross earnings for the period were £627,415, which is £7330 more than the equivalent period last year. Expenses amounted to £462,687, a decrease of £38,042. Operating revenue in the North Island was £321,187, an of £9064. Expenses amounted to £246,738, a decrease of £16,746. Net earnings increased by £25,810, being £74,449, against £45,639. In the South Island receipts were £227,874 and expenses £177,554,\. decreases of £954S and £21,883 respectively, compared with the figures last year. Net earnings increased by £12,335 to £50.320. The revenue from miscellaneous services was £78,354, and the expenditure £38,395, giving a net revenue of £39,959, compared with £32,732 last year, an increase of £7227.