VICTORIAN RAILWAYS
A SURPLUS ANNOUNCED. MELBOURNE, July 12. The ohairman of the Railway Commissioners announoed at a dinner that for the year ended June SOth the revenue was greater than any previous year by over £525,000. Loans that were originally raised at very low interest —3} per cent, and 4} per cent. — had fallen due for renewal, and the railways interest bill was more than £360,000 greater than in 1921-22. It closely approached £3,000,000 a Tear. Tho operating expenses, he aclded, were a little over £8,000,000. The management would balance the ledger and show a slight surplus. Besides the £36,000 increase in the interest bill, the commissioners had placed to the repewal accounts fund £50,000 more than last year, bringing the replacement fund up to £250,000, which was still much too conservative. The year before last the railways paid £59,000 in damages, and last year they paid out £29,000. This year the amount had been reduoed to £13,000.
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New Zealand Times, Volume L, Issue 11583, 28 July 1923, Page 12
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158VICTORIAN RAILWAYS New Zealand Times, Volume L, Issue 11583, 28 July 1923, Page 12
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