DOMINION RAILWAYS

Wanganui Chronicle, Volume 73, Issue 424, 15 November 1930, Page 8

DOMINION RAILWAYS

HEAVY DROP IN REVENUE

COMMENT BY TILE MINISTER.

1 Per Press Association. ] WELLINGTON, Nov. 14. The railway working account for the first six months of the current financial year shows a decline of about £1(10,0(10 in net revenue. As compared with the corresponding period of last year, the revenue fell by £169,281 but expenditure was curtailed by £69.621. the figures being: Revenue, £4,171,603 and £4.002.319; expenditure. £3,393.357 and £3,833,731. There was a decrease of 156.896 in the number of passengers carried. The motor road services carried 92,6.10 more passengers than in the corresponding period last year. The combined services thus lost 64.286 passengers. Commenting on the figures to-day, the Hon. AV. A. Veitch said that while not unexpected, the fail in revenue would undoubtedly affect the finances of the railways at the end of the year. There was every reason to believe that the economies already dopted (£l5O, 000), plus those still under consideration. would enable the Department to >how the reductions of expenditure it was aiming at. Later in the year they hoped to show better figures than had been revealed for the opening months.

because the economies that were being put into operation wool I have a fuller effect during the remaining months of the financial year. To stop an increase in the railway deficit required no mean effort, apart altogether from the question of reducing* it. That had been definitely accomplished in the face of tin- fall in revenue and the reduction of the deficit is developing. In the last three months they had cut expenditure down by £150.009. The general trade depression throughout the country had reduced the revenue very considerably during the last three months, but there was a feeling that trade conditions wore beginning to improve, and it was reasonable to assume that the railway revenue would get its share of the re-