THE RAILWAYS BOARD

Otago Daily Times, Issue 21358, 11 June 1931, Page 7

THE RAILWAYS BOARD

,TO TUI EDITOR. Sib, —I notice, that Mr G. W. Reid, accountant, of Dunedin, has been ap-. pointed a member of the Railways Board. I would suggest that Mr Reid, before proceeding to Wellington, should procure a copy of the last printed balance sheet of the railways from Wellington. It is a large, cumbersome book, foolscap size, and nearly half an inch thick. ■ I would suggest that Mr Reid should be asked >to criticise- jany? weak points that he; can. find ip 'connection with, the printed balance sheet, write a report on it, and submit it to Mr H. H. Sterling,, the general manager' of the railways, and I feel sure and confident that the general manager and the chief accountant (Mr If. Valentine) will be able to hold their own. When the question of the printed balance sheet has been disposed of, all parties will then be able to settle down to see if Mr G. W. Reid can make any suggestion as to''the internal management. I have perused the printed balance sheet for tue year 1928, when the railways were under a-Board of Management, a report by the Minister of Railways (Mr Coates), and-th r e annual and retiring report of- the Board of Management addressed to the Minister,' arid'l have also perused the 1929 printed balance sheet after the system came under a general manager. I have read in these reports that there is plenty of ivork to repair and strengthen and renovate the , bridges, repair and renovate the buildings. , v There is nothing very mrieh wrong with the railways balance sheet. For the years 1929-1930 the revenue was in excess of the expenditure by £921,056, and for the years 1930-1931 the revenue was in excess of the expenditure by £688,727. What has caused a big loss to be shown on the railways is the heavy interest on the capital expenditure which has afterwards to be adiusted. —I am, etc., An Accountant.