RAILWAY FINANCES

Poverty Bay Herald, Volume LXII, Issue 18661, 22 March 1935, Page 5

RAILWAY FINANCES

INCREASE IN REVENUE REVIEW BY CHAIRMAN MEETING EXTRA CHARGES (Pur Press Association.) WELLINGTON, this day. The chairman of the Railways Board. •Mr. H. 11- Sterling, announced yesterday preliminary figures showing the financial results of tho working of the railways for the portion of the financial year up to March 2, 1935. For the four-weekly period which ended on that date, the gross revenue had increased by £46,951', while working expenses increased by £21.971. resulting iu an increase in the net revenue of £24,980 when compared with the corrcsBonding period of last year. For the portion of the financial year up to March 2. the gross revenue showed an increase of £287,875, while the expenditure showed an increase ol £331,594. The net result to date was a decrease in the net revenue of £43,719 compared with the previous year. Ineluded in the working expenses was the cost of the 5 per cent, restoration of wages and salaries, and the cost of rent adjustment which had been made during the year. The aggregate of these items to March 2 was approximately £166,000. There was one more period to go before the year ended, said Mr. Sterling, and he felt very sanguine that the forecast which he had made some months ago, that the department, would be able to carry the increased expenditure in which it had been involved, and, at the same time, return net revenue equal to that of last year, would be realised.