THE RAILWAYS

Otago Daily Times, Issue 23796, 1 May 1939, Page 10

THE RAILWAYS

RECORD GROSS REVENUE NET EARNINGS OVER £700,000 REFLECTION OF PROSPERITY (Per United Press Association) CHRISTCHURCH, Apl. 30. The total revenue earned by the railways in the financial year ended March 31 reached the record figure of £9.345,388. This is shown in details which were released by the Minister of Railways (Mr D. G. Sullivan) in an interview on Saturday. The net earnings amounted to £701,064. “ Having in view the decrease of 1.000,000 in the sheep traffic following the unfortunate outbreak of facial eczema last year, it is pleasing to see that a record gross revenue was earned,” the Minister said. “ This reflects the general prosperity that prevailed throughout the Dominion during the financial year just concluded. “On the expenditure side,” the Minister said, “ there is an increase of £642,935. Of this amount £225,000 was due to expansion of the existing road services and to the operation of the additional goods and passenger road services which were acquired during the year, and £38,000 was due to the requirements of additional business at the department’s refreshment rooms and bookstalls. “ Concessions to the staff increased the expenditure by approximately £ 160,000, coal costs increased by £43,000, of which £20,000 is due to increased prices and £23,000 to increased consumption consequent on additional engine miles. Approximately 400,000 additional train miles were run during the year and this, together with an extraordinary expenditure of some £60,000 in repairing the line between Napier and Putorino, which was seriously damaged by flood in April, 1938, accounts for the balance of increased expenditure. “ The net results obtained for the year, with the increase in fares and freight charges operating for 16 weeks only, are very satisfactory,” the Minister added, “and there are indications that the net returns for the current year will show an improvement in the figures for the financial year just closed.”