THE SEE-SAW OP RAILWAY ACCOUNTS.

Tuapeka Times, Volume XXVI, Issue 1814, 22 July 1891, Page 5

THE SEE-SAW OP RAILWAY ACCOUNTS.

Knowledge comes, but wisdom lingers in connection with railway matters as with others. The Standing Committee has published, without comment, a table of working expenses on the various Australian lines* The list is:—

The percentage is calculated on the revenue received. And the conclusion is leaped at— and, perhaps, the Committee desired the result— that, putting Queensland aside, the Victorian railways are the most costly in management of all. But of course it is an abuse of the figures to draw any such inference, inasmuch aB what the return points to is the margin of profit left by the rates charged, and not the amount of the expenses. For instance, the wine-growers aie now bringing pressure to bear for the reduction of the freight on wine, and probably they will be successful. If so, then, though not another man may be employed or another shilling spent, up will go the working expenses. It may be that wine now yields a good profit to the department. The carriage may cost only 10s where Ll is received, and in that case working expenses are only 50 per cent. If however, the viticulturists obtain & reduction of 53, then the working expenses will remain at 10s, and the receipts will be reduced to 15s, and the working expenses will be 66 per cent. It has been proposed to carry coal at cost price on the Gippaknd lines, and in that case, even though salaries were cut down to starvation point, the working expenses would be 100 par cent. This principle applies all down the line. The percentage of working expenses proves nothing, because it may be high or low, utterly irresppotive of the actual cost of management and of carriage. A costly and badly- managed line may show a small percentage of working expenses, because traffic may be large and freights may be high, and an economically worked line may show a heavy percentage, becauee fares may be low or business may be small — ♦ Argus,'

What is that we wish for, and when obtained we never know we have it? Sleep. Sybil Sanderson, the American girl who. has made such success on the operatic stag© of Paris, is a pretty blonde woman, with a frank, open face, and limpid blue eyes. She. has a voice of wonderful power and quality.

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Jueensland .. Victoria few South Wales Tew Zea'and . . South Australia . . 73 per eeni .. 08 „ .. 63 . . 62 ,„ •- 51 „