RAILWAY REVENUE

Otago Daily Times, Issue 21598, 19 March 1932, Page 12

RAILWAY REVENUE

IMPROVEMENT FOR FEBRUARY EXPENDITURE HEAVILY CURTAILED. (Per United Press Association.) WELLINGTON, March 18. In a statement to-day the Minister of Railways (Mr G. W. Forbes) announced an improvement in the net revenue of the railways of, roughly, £23,000 for the four-weekly period ended February 27, against last year. This, added to other gains in recent months, made a total improvement of approximately £115,000 in the net revenue, from £554,000 to £659,000 for the 48 weeks. The decrease in the total revenue so far, stated the Minister, was £1,037,000 —from £0,882,000 to £5,845,000—but this had been more than offset by heavy reductions in expenditure, totalling £1,152,000. The decline in the gross revenue was accounted for mainly by a heavy decrease in imports, A further cause had been the necessary reductions and other adjustments in fares and rates to enable the department to hold or increase certain classes of traffic. The result had been to maintain at a higher level than otherwise would have been possible the general volume of traffic passing over the railways. In view of the steady improvement in recent months, he anticipated that the year would close with still further improVemcnt in the net revenue position.