RAILWAY REVENUE.

Wairarapa Age, 6 May 1924, Page 5

RAILWAY REVENUE.

SHOWS AN INCREASE. MINISTER’S STATEMENT. Wellington, May s.—The Hon. J. G. Coates, Minister for Railways, communicated the following information to the Press in regard to railway accounts for the year ended March 31. Notwithstanding fhe fact that sever© floods and interruptions to traffic occurred in the early part of the year thp revenue has not only been well maintained but hag shown an increase of £256,409 over the revenue for the preceding year, while during the same period the expenditure has been reduced by £98,731. The net return of revenue over expenditure for the year amounts to £1,580,445, as against £1,225.305 for the previous year. The percentage of profit on capital invested is approximately 3.82 as against 3.04 for the previous year and the rate of interest which the Government expects the railways to return i s 3} per cent. It will be seen, therefore, that the rate earned by the Department is slightly in excess of that rate.

Passengers show a decrease of 420 - 000, goods tonnage shows an increase of 300,000 tons, while train mileage has increased to 670,0000 train miles — (P.A.)