FINANCE OF RAILWAYS

Taranaki Daily News, 6 August 1929, Page 11

FINANCE OF RAILWAYS

SOME IMPROVEMENT SHOWN LOSS ON DISCONTINUED LINES. OPINIONS OF GENERAL MANAGER. (By Wire —Special to News.) Auckland, Last Night. An improvement in the position of the Railway Department of £120,090 during the last year, was reported by the general manager of railways, Mr. 11. H. Sterling, at the Railway Officers’ Institute re-union in Auckland. “The knowledge that the working expenses of the department are being reduced is very gratifying,” said Mr. Sterling. “From figures in the Gazette the position does not look so happy,, but there are some factors to be taken into consideration over which we have no control. Two lines on which work has been discontinued have proved a substantial loss but, eliminating these, we are about £BO,OOO to the good. Counting £43,000 more than the previous year which has been put aside for depreciation and repairs, we are really £120,000 better off.

“I have the temerity to believe that in the past year we have made some advance,” continued Mr. Sterling, “and it is after meeting those most competent to express an opinion that I dare to make the statement' of an advance.” ’