NEW ZEALAND RAILWAYS

Stratford Evening Post, Volume XXXXII, Issue 58, 6 May 1924, Page 7

NEW ZEALAND RAILWAYS

1 IMPROVED FINANCES.

for I'l'cs'. Am -oe<.al ion Wellington, May .>.

The Hon. .J. G. Coatos (Minister i for Railways) communicated the fol- i 1: winr information t 0 the press in re- j gard to the railway account for the year ending Mare}] 31, 1921: — "Notwithstanding the fUct that severe Hoods and interruptions '-" traffic occurred in the early part of the year, the revenue has not only been well maintained, but has shown ! an increase of £250,409 over the ie- j venue for the preceding year, whiie during the same per od the expenditure has been reduced by the sum of £98,731. The net return of revenue over expenditure for the year ending Mn'vh 31, 1524, amounts'to £I,SSOJ--4-4-5, as against the sum of £1,220,305 for the previous year. "The percentage of print to capital invested is 'approximately 3.82 per cent., us against ;).()! per cent. for the previ >us' year. The rate of interest wn'-ch tho Government expects the railways to return is 3.J per cent. It,will he seen therefore, that the rate earned by the department is slightly in excess of that rate. "Passengers show a decrease of

420,000 and the giods tonnage shows an increase of 300,001 tons, while the train milenge h:is increased to the extent of 070,00} train miles."