THE RAILWAYS

Timaru Herald, Volume CXXXIX, Issue 20064, 22 March 1935, Page 16

THE RAILWAYS

WORKING RESULTS By Telegraph—Press Association WELLINGTON, March 21. The chairman of the Railways Board, Mr H. H. Sterling announced to-day the preliminary figures showing the financial results of the working of the railways for the portion of the financial year up to itlarch 2, 1935. For the four weekly period, which ended on that date, the gross revenue increased by £46,951 while working expenses increased by £21,971, resulting in an increase in net revenue of £24,980 when compared with the corresponding period last year. For the portion of the financial year up to March 2, the gross revenue showed an increase of £287,875, while the expenditure ed an increase of £331,594. The net result to the date mentioned was a decrease in the net revenue of £43.719 compared with the previous year. Included in the working expenses was the cost of the 5 per cent, restoration of wages and salaries and the cost of the rent adjustment which had been made during the year. The aggregate of these items to March 2 was approximately £166,000. There was one more period to go before the year ended, said Mr Sterling, and he felt very sanguine that the forecast which he had made some months ago that the department would be able to carry the increased expenditure in which it had been involved and at the same time return a net revenue equal to that of last year would be realised. Superannuation Board Election of the following as members of the Government Railways Superannuation Fund Board is gazetted: Louis Vincent Carmine (representative of the First Division, North Island >, James Stanley Roseoe (representative of the First Division, South Island, Ernest John Dash, Michael Connolly, and Jacob Elliott (representative of the Second Division, both islands).