THE RAILWAYS.
A HEAVY LOSS. Factors contributing to the deficit of £1,211,269 in the railway accounts are dealt with in the, Railway Statement for the year ended March 31st, 1930, presented to Parliament by the Minister of Railways, Hon. W. A. Veiten, yesterday. Last year’s losses wore greater bv £778,625 than (luring 19-28-29. The, Minister’s report is unusually short, covering only three pages, in which he indicates that no policy changes will be made until after the receipt of the report of the Royal Commission. It is estimated that the current year’s revenue will be £5,470,695, and the expenditure £6,375,003. -In a complete survey of the Department’s operations, the general manager, Mr. H. H. Sterling, sets out the effect of the alteration in the financial structure of the Department, as a result of which the deficiency had been increased by £512,216. He emphasises tho inapplicability of the revenue and expenditure account as a test of managerial efficiency, and he states that by “various strokes of the ‘policy’(pen tho account has been loaded to an extent of approximately half a million pounds.” lie also refrains from references to the railway problem in view of the pending report of the commission.
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Otaki Mail, 3 September 1930, Page 3
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199THE RAILWAYS. Otaki Mail, 3 September 1930, Page 3
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