RAILWAY REVENUE DOWN

Taranaki Daily News, 10 June 1930, Page 4

RAILWAY REVENUE DOWN

INCREASED EXPENDITURE. FEWER PASSENGERS CARRIED. A decrease in gross revenue, and an increase in expenditure were the result of the railway operations for the year ended March 31 last, according to returns gazetted. Commenting on the figures, the Minister of Railways (the Hon. W. A. Veitch) said that the returns showed that the ordinary revenue was £8,288,110, as compared with £8,249,039 last year, an increase of £39,077. Owing to the discontinuance of the recoupment of the W’orking Railways Account in respect of the losses on the working of branch lines and isolated sections, the gross revenue decreased from £8,747,975 to £8,288,116, or by £459,859. Passenger traffic decreased, by £128,819, mainly as a result of there being practically no Easter traffic in the year under review whereas the previous year included the greater part of two Easters. ,

Goode, parcels and miscellaneous traffic increased by £77,948, notwith: standing that goods revenue suffered to the extent of £60,009, owing to a reduction in the amount recovered from the Department of Agriculture in re- ' spect of concessions granted on the carriage of lime and The revenue from subsidiary services showed a substantial increase as follows: Miscellaneous, £71,956; Lake zWakatipu steamers, £507; refreshment rooms, road motor services and advertising, £13,734, and departmental dwellings, £37sl—a total of £89,948. . ’ Railway operating expenditure increased from £6,374,579 to £6,848,026. or, by £473,447.. The principal factors contributing to this result were the increase in the mileage of open lines owing to the Tauranga and Kirikopuni lines having been in use.for the full year; an increase in the cost of maintaining rolling stock due to the 'work having fallen somewhat info arrears during the change-over to the-pew workshops; the greater ’ train . mileage run tn order to cope with increases, in goods traffic and /to provide more attractive passenger train-services; the higher cost of fuel as a result of our having to use inferior f classes of coal consequent on the strike in New South Wales, and special expenditure undertaken in order to assist in the relief of unemployment. Expenditure on subsidiary services increased from £474,804 to £510,833, or by • £36,029, ‘due principally to the taking over of additional refreshment rooms; extensions of the road motor services, particularly in the Hutt Valley, and the greater number of dwellings in use for the full year. “The foregoing,” added Mr. Veitch, “is obviously not an exhaustive analysis of the position, nor is it intended to be so. I merely give the information in order to indicate some of the principal factors that have had a bearing on the railway financial results during the past year. In conclusion, I would -like to say that I am making a thorough study of the financial position of the railways, and will dealwith the whole matter comprehensively during the coming ses-. sion of Parliament.” Details of the revenue and expenditure for the year, together with the figures for the previous year, are given below:— REVENUE.

For the year ended March 31 last, the percentage of revenue to expenditure was 88.88. The percentage for the previous year w<is 78.30, with the subsidy included, and 80.03 without it.

1930 £ 1929 £ North Island 4,350,509 .4,465,744 South Island 3,123,483 3,059,119 Miscellaneous 380,086 303,131 Lake Wakatlpu steamers 1’1,446 10,940 Refreshment rooms, advertising, road, motors . and other subsidiary services 312,040 2(99,205 Departmental dwellings 109,648 . 105,897 Totals ■ 8,288,116 8.249,039 With subsidy on branch lines and Isolated sectlonB ............. 8,747,975

EXPENDITURE. 1930 1929 £ £ 3,868,975 3,567,442 South Island 2,979,049 2,807,130 Late Walratlpu steamers 18,374 17,424 Refreshment rooms, etc. 304,642 287,305 Departmental dwellings 187,815 170,073 7,358,858 6,849,383