RAILWAY EARNINGS.

Taranaki Daily News, 20 July 1935, Page 6

RAILWAY EARNINGS.

The railway returns for the third fourweekly period of the current financial year are by ho means discouraging. They Show a alight nett increase in earnihgs as compared with the correspdndiiig period last year. If the total nett revenue figures for the three periods is taken ihfo account the result is distinctly cheering, for it shows that after allowing for the cost of restoring portion. of the wages cuts necessitated a few years ago the earnings have improved on those for last year. It is true the margin in favour of the current year was not large—it amounted to but £l^s5 —but when it is remembered thAt the increase in wages and salaries Cost £36,000 in that period it will be seen that the real increase in earnings Wis over £37,000 for the first quarter of the current financial year. /In the first, few years of its operations the Railways Board was able to show an improved financial position by reason of decreased expenditure as well as by increased warnings. It was obvious that a limit to savings must be reached sooner or later if present services were to be maintained, and the restoration of wage cuts has had a marked influence upon working costs. It is satisfactory to note, therefore, that those additional costs have been absorbed and an increase in nett earnings also maintained. There is still much headway to be made before the railways can be said to be carrying all their liabilities of interest charges as well as working costs.- So long as progress towards that goal is maintained, evdn though slowly, the ndn-political management of thi undertaking remains thoroughly justified. •