SECOND EDITION. The Railways

Stratford Evening Post, Volume XXXIX, Issue 88, 18 August 1923, Page 6

SECOND EDITION. The Railways

NET PROFIT OF THE PROPOSALS. Per Press Association'* .'.V., Wellington, August" •_ 'The railways statement says • -the, net profit on the results o? "working for the year ended M& 31, 1923, is- £1,225,305, as compare With £40j5,8i64 for the previous.year. ' this represents an increase in the , *,i©t earnings per average mile from: $136 td £406. The percentage ot working expenses to earnings JM, 81 79 as, against 93.89 in 1912-22, and the percentage of profit to the 'capital invested was 3.04. a s compared with 1.07 in the previous year. In view of unsettled conditions in •' various directions and the decline va the export of some of our staple • products, the Minister takes a conservative view in matting the forecast for the railway revenue for the coming year. He anticip.ites that it -Will" reach £7,000,000 and the expenditure £6,050,000. ,- ! "The tariff is probably one of the most important questions now calling jfor the Minister. '--. U| t iW iU b©' remembered that during /the war period passenger fares and pjKQels and goods charges were increased by certain percentages, and v naiur*Hyr,it *ft be felt that relief -shpuid be given in this respect. From :she consideration it has been possible for me to give to the subject, howler ' J that a comprehensive revision of tariff .would be a iauqh more.desirable course of action J >,o take, an,d this will be one of the : first matters of importance that I intend to go into, at the termination of the'session.. I have already given thought to it, with the idea ot appointing a small committee to aa- ' sist and advise me with regard to the many complex details that will arise. '< In conjunction with the revision of the tariff be considered the question of the wages and working -' conditions of the staff. If the department is to hold its own with the very real motor competition, which •; a increasing, concessions both to the users of the railways and to the , \-baffi will have/ to be subjected to very close inyestigatiqn.'' •