RAILWAY LOSSES

New Zealand Herald, Volume LXXV, Issue 23150, 23 September 1938, Page 14

RAILWAY LOSSES

PERIOD TO AUGUST.2O WORKING DEFICIT £50,607 £49,900 FALL ON LAST YEAR [by telegraph —OWN correspondent] WELLINGTON. Thursday Loss of ground to the extent of £49,912 is shown by railway working in the four weeks ended August 20, compared with the corresponding period of .last year. The accounts for the period, an abstract of which was gazetted in Wellington to-day, record a working loss of £50,607, compared with a loss of £695 last year. The gross revenue for the period was £616,320, which was £19,592 more than last vear, and expenses increased by £69,504 to £666,927. The operating account for the North Island lines shows a revenue of £319,5132, an increase of £5266, and expenses totalling £356,717, an increase of £35,018. There was a loss of £37,185, compared with a loss of £7433. The receipts of the South Island railways were £207,382, compared with £2i.0,390, a decrease of £3OOB. Expenses were £238,965, in increase of £16,376. There was u loss of £31,583, compared with a loss of £12,199 last year. The balance of miscellaneous revenue was £18,161, as against £18,937 in 1937. The gross revenue was £89,406 and expenditure totalled £71,245. For the 20 weeks from April 1 to August 20 the net result was a loss of £6492, compared with a profit of £170.805 Inst year, a difference of £177,297. The gross revenue was £3,309,316, an increase of £125,011. The expenditure was £3,315,808, an increase of £302,308 Following is a summary of the net results for the corresponding periods of four weeks in the last three years:— Period to 10,18 1937 103(1 April 30.. £1)8,803 £133,725 £121.370 Mnv °8 53,202 '10,2-15 115,758 Julie 25.. *20,700 1-1,127 00,040 Julv 23 . *81,271 *22.807 20,032 Aug. 20 .. *50,(307 *01)5 *<1,071 *£o,-102 £170,805 £331.728 •Loss on working.