RAILWAY REVENUE.

Star (Christchurch), Volume LXVI, Issue 20454, 6 November 1934, Page 8

RAILWAY REVENUE.

Satisfactory Position Disclosed. MR STERLING OPTJMISTH'. (“Star” P.-rliVr-e-'tnrv Rcno'tTJ WELLINGTON. This I>.”. Mr 11. H. Sterling, chairman ol the Railways Board, to-day announced the financial results of the working ol the! railways up to October 13. For the f- air- j weekly period which ended on that , date, the expenditure increased by | £92.055 and the revenue by £26.367. re-, suiting in a decrease in the net revenue j for the period of £65.688. For the portion of the financial vear from April 1 to October 13. expenditure increased by £212.048 and revenue by £202.145. resulting in a decrease in the net revenue of £9903. The abnormal increase in the expenditure for the period. Mr Sterling explained. was due to the fact that the whole of the 5 per cent increase in salaries and wages, which was operative from April l last, was paid out in that period. This represented a sum of £77,513. Adjusting the figures to allow for this amount the expenditure for the period showed an increase of £14.542 and the revenue an increase of £26,367, the increase in net revenue on this basis being £11.825 for the period. Similarly adjusting the figures for the portion of the year up to October 13. the increase in expenditure would be £134,535 and. with an increase in gross revenue as indicated of £202,145. there would be an - increase in the net revenue as compared with last financial year of £67,610. “ Provided that the revenue keeps up as it has been doing during the first portion of the financial year, the indications are,” said Mr Sterling, “ that the net revenue will not only be equal to that of last financial year, but will also go a long way towards meeting the additional amount required for the increase in salaries and wages, which for the vear is estimated at approximately £175,000.”