LOSS ON RAILWAY WORKING
DEFICIT OF £33,000 FOR 24 WEEKS DROP OF £217,000 ON LAST YEAR (Special to The Times) WELLINGTON, October 20. Loss of ground to the extent of £217,292 is shown by the railway working account for the 24 weeks of the present financial year, ended September 17, compared with the result for the corresponding period last year. A working loss of £33,058 replaces the profit of £184,234 shown by the accounts to September 17, 1937-38. For the first 20 weeks of this year, ended August 20, there was a loss of £6492. The accounts for the next fourweekly period, ended September 17, an abstract of which was gazetted tonight, show a working loss of £26,566, making the total deficit for the year- to date £33,058. For the same four-weekly period last year there was a profit of £13,430. The gross revenue for the latest period of four weeks was £632,752, which was £15,044 more than last year. Expenses were increased by £55,040 to £659,318. The operating account for the North Island lines shows a revenue of £323,992, a decrease of £3662, and expenses amounting to £352,800, or £26,422 more than last year. There was a loss of £28,808, compared with a profit of £1276 last year. The receipts for the South Island railways were £215,025, a decrease of £719, and the expenses were £233,963, £9283 higher. There was a loss of £18,938, compared with a loss of £8936 last year. The balance of miscellaneous revenue was £21,180, against £21,090 in 1937. The revenue was £93,735 and the expenditure £72,555. For the period from April 1 to September 17 there was a deficit of £33,058, compared with a net revenue of £184,234 last year and £356,001 in 1936. The gross revenue was £3,942,068, an increase of £140,056. The expenditure was £3,975,126, an increase of £357,348. Following is a summary of the net results for the corresponding periods of four weeks in the last three years:—
1938 1937 1936 Period to £ £ £ April 30 98,803 133,725 124,370 May 28 53,292 46,245 115,758 June 25 •28,709 14,427 69,940 July 23 •81,271 *22,897 29,632 Aug. 20 •50,607 *695 *4,971 Sept. 17 ’ *26,566 13,430 21,272 • • *33,058 ’ 184,234 •Loss on working. 356,001
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https://paperspast.natlib.govt.nz/newspapers/ST19381022.2.72
Bibliographic details
Southland Times, Issue 23646, 22 October 1938, Page 7
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368LOSS ON RAILWAY WORKING Southland Times, Issue 23646, 22 October 1938, Page 7
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