The Railways Statement

Southland Times, Issue 19104, 22 July 1903, Page 3

The Railways Statement

A SUCCESSFUL YEAR

LARGE INCREASES OF BUSINESS

By Telegraph

From Our Own Correspondent

'WELLINGTON, J;uly ; 21. r The Railways StatemenV for ' trie year ended 31st March was presented to i'arliament to-day." The -results, Says the minister, have - .again.; -been mos.l) satisfactory, .and. sn.o\v a, large increase on the" ; , business^ <>f - the preceding -financial year, ndtwkth&t'auding the fact Unit the latter was- a record one. The earnings wcrelr .ii 1,974:,038 r the e-xpendituio 4i1i35t3;415,-leavtrag a net profit on working of £030,0:23 ; the figures for 1902 - being— earnings, - £1,8"4,08fi ; expenditure, £1,252,237 ; prolit £T51.»2,34tf. At the end of the year there were 2291 miles open for traffic, as against 2185 in the lormer year. The capital cost ot the lines had increaeed from £18,170,722 to £19,081,735.- The net revenue was equal to a return of 3.3 :per cent. on the capital invested. In open lines the Kawakiwa ' and Nelson sections failed to - pay working -expenses, showing deficits of £834 and. £532 respectively. The number- oT passengers carried last year exceeded that of lUO2 by 219,254, and gave an increased revenue of £832. The coaching' and -goods traffic also . show increases, of -£78,120 and X87.0G1- rcspectivelv. The increase in sheep, by 1,096,473 head, is unprecedented. The rolling stock has" been increased by 10 locomotives, 45 bogie, cars, 13 bogie brakevans, two Pell incline brake vuns, 537 waggons, and 391 tarpaulins, all of which-' have -been turned' out of the railway = "workshops. Two hundred and twenty-one locomotives. 437 carriages. 137 brake vans'. 3804 waggons and rive travelling cranes have been supplied with the West'nghouse brake ; rt3s vehicles with- Pintsch gas, and 373 secondclass vehicles with cushions. The average number of men employed was 8875. as against 8313 for the previous year. During the year IC4 members of the permanent staff resigned, 35 died, «<> were retired, 32. were dismissed, and 509 'engaged. £3250 has been paid as compensation aod.compassiqnu.te allowances;.- f J6ixtehsi6hs : of . the .: railway system amounting* i:6:156 aniles Were opened for .traffic aurihg the year.. The receipts per. train; per mile . were.:7s. 3d against ys^^SA-rAr-^ei'prdviqvis-'-V-yeir.-y The ex■pen&itiiifr- 7 'n-for'---'sytorking:. absorbed 65.05 pertcent.. of the revenue, i an increase of 1.25- p4r; tent."' over .the fate for 1902. The expenditure" for Maintenance of lines, buildings;" bridges' . and • other structures has 'increased from £436,847 last year, to- £400,398 for the. year under review, and represents an average of, £240 per mile of railway open. £25,057 has been expended on additions -and improvements to lines - and structures,' which might fairly -have been: debited to capital, £'i3V728 wais spent on bridge, repairs anflrenewals, of : -r /'-■ which < £10,320 was debited to : capital, and the balance -- : to ..working .G . :• expenses . The capital cost- doe* riot ; include' 4he line khqwn.as the Midland, Rail way, the <apifal' cost -.to the colony, of which was , £576,'41^r The' het: earnings for the year give 1 -a jreturn of 3.21 per cent. 6h capitaiiCOSt. iiThe;; * -Minister, urges that the r?iaj^n^p;?the track and strengthening oinbiridges^rbe' rapidly pushed on,' so that the -heaviest type of locomotive . can be used x*n. any portsion> of -the trunk and. principal branch Jines, and the demand ; for quick, safe .arid cheap, transport- satisfied. JJntilvthis is', done the proportion, of;: expenses " if o --revenue must be high. The for the- year ending . 3lst March; 1904, is estimated at £2,000,000 aidHhe^exj?ehditure at >£I^GO,OOO.