NEW ZEALAND RAILWAYS.

Wairarapa Age, Volume XXV, Issue 10713, 25 September 1913, Page 5

NEW ZEALAND RAILWAYS.

STATEMENT FOR THE YEAR. NET EARNINGS ALMOST A RECORD. One of the most important returns of the session—Oio Railways Statement —was tabled by the .Minister for Railways (Hon. W. H. Herries) in the House of 'Representatives this afternoon. The more vital points in the Statement are as follow: — The net earnings amounted to £446 per mile for the average number of miles open, and gave a return of 4.04 per cent on the capital cost. This return is the highest biit one ever on rued by our railways. Last year it was 3.98 per cent. The net profit on working is £l,2(k>,393, as against £1,210,613 in 1912

Estimated revenue for the year ending 31st March, 1914: £4,200,000, and expenditure £2,931,250. The percentage of working expenses to earnings is 68.13, as against 67.07 the previous \£ear. , The actual earnings - have- exceeded? the estimate by £226,002, and the earnings of .the preceding year* bv ; £294,493. . . ,V..../ •Passenger: revenufe ' shows .an in*crease of £128,514; "season tHjkets. £14,244; coaohing traffic, £11,875: goods and live stock, £124,902; miscellaneous Tents and commissions. £14,958. Instructions have been given by the Minister for the designing of automatic signals for, use on railway crossings. . " The earnings .per train mile in "the North; Island declined from 8s 4d to 8s l*d . . . ; those -of the South Island increased from 8s 9»d to 9s 2|d. Arrangements have been made to yeet the control of the Hutt Road in the Wellington City Council. Opportunity is to be afforded men in the Second Division-to quality for promotion to tAe Eirst Division.

FIGURES AND FACTS. More pertinent statistic® with regard ,to the working of the system are appended:— Comparative figures: -The total earnings for 1913 (ended March 31st) werg £3.971,002, as. against £3,676,509 the preceding year. Total expenditure '£2,705,609, aj? against £2,465,896 in 1912.' N&t earnings per average mile open: £446 this year, as against £43.1 Ipt, ~ ' A , ;'. v Net earnings per train mile: 88.66to against 34.73' in 1912. Estimated rfevenue for year ending Jtfarch 31st, 1914: . and expenditure at £2,931,250. The mileage of line open for traffic on March'3lst, 1913, was 2860 miles, as against 2808 for the previous year. The average of miles operated during the year was 2840.The capital cost of lines open for traffic, including plant and steamers on Lake "Wakatipu, has increased frolm £30,506,089 to £31,611,220. , The net revenue (£1,265,393) is equal to a return of 4.04 per cent, on the open lines, and 3.74 on the capital (£33,831,783) invested in opened and unopened lines. The number of train miles run during the year was 9,016,224, being an increase of 644,0337. . .. The increased train mileage represents a cost of over £193,000. The addition made to the train ser- j vices in the Norths Island accounts few- 499,951 miles, and in the South Island services for 107,376 miles. The interest on capital earned by the " North Island fnain line : and branches receded from £4 19s 7d per cent, to £4 17s 5d per cent., while that earned by the South Island main line and branches advanced from £3 2s per cent.

The average number of men employed on the railways during the year was 14,213, against 13,523 for the previous year. _ The cost of maintenance of lines, buildingg, structures, safety appliances, etc., has increased from £735,546 t<t £765,860, representing an average of £270.61, against £263.46 per mile of" railway for the previous year.

The sum of £164,577 was spent in additions to station buildings, etc. - The -sum of £12,616 was paid during the year under the Workers ? Compensation Accidents Act.