RAILWAY FINANCES

Poverty Bay Herald, Volume LXI, Issue 18547, 6 November 1934, Page 11

RAILWAY FINANCES

returns complicated

INCREASES IN WAOKS

(Pel- Press Association.) WELLINGTON, tills any. The chairman of the Railways Bmud, Mr H. If. Sterling, announced to-day that as a result of the railway working t,, October 13, the expenditure I'or tue four weeks increased by £92.055. and the revenue *bv £20,507. resulting' m a decrease in the net revenue el £<;r..(S.HS. I'hir the portion of the financial year from April 1, flic'expenditure increased by £212.07S and the revenue by £202.l td, result inn; in a decrease m the net revenue of. £990.,. Mr Sterling explained that .the a»normal expenditure was due to the fact that the whole of the •> per cent increase in salaries ,and wages, which was operative from April 1, was pan. out of this last four-weekly period, the sum of £77,did being involved. Aojusting the figures to allow for this amount, the expenditure showed an increase of £14,042, and the revenue an increase of £2(5,307, the increase in the net. revenue on this oasis being £] 1,82 m Similarly adjusting the figures from April 1. the increase in expenditure would be .0134,535, giving an increase in the net revenue, as compared unn last financial year, of £07.010.

Mr Sterling remarked that the nnlicirtious are that the net revenue •• *' the full year will be no'l only eipi'il to last financial year, but would go .. long way towards meeting the additional amount required for the increase in salaries and wages, which, for the year, would be approximately £l7o,(IOd.