RAILWAY FINANCE

Taranaki Daily News, 11 August 1932, Page 9

RAILWAY FINANCE

SOME ENCOURAGING SIGNS. “WORST DAYS MAY BE OVER.” Grounds for encouragement are found by Mr. P. G. Roussell, General Manager of the New Zealand Railways, in the railway revenue figures for the latest weekly - period. Mr. Roussell expects the complete figures for the current four-weekly period to show a distinctly favourable turn. This, combined with news and information gleaned from many sources, he adds, warranted the belief that from a railway traffic viewpoint the worst days of the depression period may be over. ’ “In the Dominion there is evidence of a widely-awakened public interest in the progress of railways,” says Mr. Roussell in the August issue of. “The New Zealand Railways Magazine.” “Appreciation of their importance to national welfare is frequently expressed by leading public men and by the Press generally. All this is helpful when the ‘ question ‘How shall, we travel?’.or ‘How shall we send our goods?’ is uppermost, for the belief that it is a ‘good thing’ to use the rail whenever possible must be firmly held if wasteful diversions of traffic are to be avoided.

“The definite revival in passenger traffic which recent months-have shown is a clear indication that the policy of low fares has met with public approval and support, and this has had favourable reactions for the department’s business in both parcels and goods traffic. The purely instinctive tendency to ‘freeze’—common to all animals in times of sudden danger—accounted for the sudden cessation of whole streams of commerce during the shock period of the depression. That stage is now fortunately past and in its place is found a more enterprising, spirit, looking for opportunities to turn to advantage the present period of low prices and a tendency toward revival along the avenues of trade. “Words of good cheer are now coming from the highest and best-informed authorities both overseas and in the Dominion in regard to a clearing world outlook, and in any such improvement the railways of this country, which are at a high standard of operating efficiency with carrying capacity much in excess bf the business now offering, will undoubtedly share.”