N.Z. RAILWAYS

New Zealand Times, Volume L, Issue 11654, 19 October 1923, Page 5

N.Z. RAILWAYS

RECEIPTS GREATER GROSS PROFIT DOUBLE LAST VELAR'S. IMPROVEMENT OF £227,000. On the basis of receipts and expenditure the financial statement fr.r the 1 period up to September loth for the New Zealand railways shows a great improvement on last year, the grot’* profit being more than double what it was for the period last year, this applying to both islands respectively and collectively. TELLING FIGURES In 1922 the receipts exceeded expenditure by £239,180, hut ibis year the | surplus has reached £446,242, of which I £87,454 is for the South Island and £358,788 is for the North Island. In each case, the surplus last year was a ! little less than half those amounts. !1 he North Island main line accounts i for the larger portion of the gross pro I fit in the North. In the South Island the surplus of receipts over expenditure would have all but reached six figures but for the heavy deficiency on the Pict-on line, over £SOOO, and on Lake Wakatipu steamers, £I3OO. Last year the Picton lino balanced itself to £IOO. EXPENDITURE DECREASING. The improvement appears to be due , to a decrease in the expenditure. The total receipts for the period are £2,918,550, against £2,847,816 last year, but the current j'ear’s expenditure is £2,472.608, against £2,628,636, so that while the revenue show* an Increase of £7l,QOp, the expenditure shows a | decrease of £156,000, together a net improvement of £227,000. DETAILS. ExpediSection. Revenue. ture.

£ £ North Island— Whangarci 37,466 46,587 Knihu 3.599 4,614 Gisborne 16,419 14,569 North Island main lines and branches 1,668,123 1,301,049 Total 1,725,608 1,366,820 South Island— South Island main lines and branches 1.004.396 933,889 Westland 95.872 95,843 estport 64.458 37,724 Nelson 9,871 13,165 Picton 15.4CS 20,574 Lake M akatipu steamers 3,233 4,591 Total 1.193,241 1,105,787 Grand total 2,938,850 2,472,60S CORRESPONDING PERIOD LAST j TEAR. 1 North Island— 1 Whangarei 30,394 40,336 ! Kaihu 3,203 4,447 . Gisborne 15,771 17.495 ' North Island main i lines ami branches 1,593,103 1,403,828 Total 1,612,473 1,466,108 South Island main lines and branches 1,028,372 1,013,632 Westland 85,51$ 74,713 Westport 59,897*34.234 Nelson 10,163 14,711 Picton 17,860 17,930 Lake W akatipu steamers 3,546 7,307 Total 1,205,343 1,162,523 Grand total 2,847.816 2,628,636 j