THE RAILWAYS

Southland Times, Issue 22472, 7 November 1934, Page 8

THE RAILWAYS

FOUR WEEKS’ WORKING EXPENDITURE AND REVENUE FIGURES ANALYSED (Per United Press Association.) Wellington, November 6. Mr H. H. Sterling announced to-day the result of the railway working to October 13. The expenditure for the four weeks increased by £92,055 and the revenue by £26,367, resulting in a decrease in the net revenue of £65,688. For the portion of the financial year from April 1, the expenditure increased by £212,048 and the revenue by £202,145, resulting in a decrease in net revenue of £9903. Mr Sterling explained that the abnormal expenditure was due to the fact that the whole of the five per cent, increase in salaries and wages which was operative from April 1 was paid out in this last four-weekly period, the sum being £77,513. Adjusting the figures to allow for this amount, the expenditure showed an increase of £14,542 and the revenue an increase of £26,367, the increased net revenue on this basis being £11,825. Similarly, adjusting the figures from April 1, the increase in expenditure would be £134,535, giving an increased net revenue. as compared with the last financial year, of £67,610. Mr Sterling remarked that the indications are that the net revenue for the full year would be not only equa.' to the last financial year, but would go a long way towards meeting the addi tional amount required for the increase in salaries and wages which for the year would be approximately £175,000.