THE RAILWAYS.

Rangitikei Advocate and Manawatu Argus, Volume XXXVII, Issue 10656, 27 May 1913, Page 4

THE RAILWAYS.

Per Press Association. Wellington, May 26. Previewing the operations of the New Zealand railways in the past year, the Hon. W H. Herries said today that for the year ended March 31st the railways had.given exceedingly good returns, the approximate interest earned on capital invested being £4 0s 8d per cent., a return only once exceeded, in 1911, when the interest earned was £4 Is 3d. The percentage of expenses to earnings was 68.13, comdared wiht 67.07 in the previous year. There had been an improvement in the interest earning. on the South Island line?, while the North Island lines showed a falling off, which had forced the Minister "to reduce the services that were not paying. The figures for the past two years were: —North Island, 1912, £4 19s 7d, 1913, £4 17s sd; South Island, 1912, £3 2s, 1913. £3 Ss lOd. In nett revenue earned per train mile, the figures were: —North Island: 1912, 2s 10%d, 1913, 2s 7J£d; South Island: 1912, 2s The nett revenue per average rnfle of ine open worked out as follows :—North Island : 1912, £607 10s 7d, 1913, £606 12s; South Island. 1912, £303 23 2d, 1913, £340 19s lOd. The precentages of expenses to the revenue compared as follows: North Island: 1912 65 22, 19115, 67,81; South Island, 1912, 70.95, 1918 69.71. The Minister said the expenditure on the North Island main line would require careful watching.