RAILWAY YEAR

Wanganui Chronicle, Volume 79, Issue 68, 22 March 1935, Page 8

RAILWAY YEAR

LARGER EXPENDITURE CARRYING THE INCREASE I Per Press Association 1 PARLA.MENT BUILDINGS, Mar. 21. The chairman of the Railways Board, Mr. H. H. Sterling, announced to-day the preliminary figures showing the financial results of the working of the railways for the portion c-f the financial year up to March. 2, 1935. For the four-weekly period which ended on that date the gross revenue had increased by £46.951, while working expenses had increased by £21,971, resulting in an increase in net revenue of £24,986 when compared with the corresponding period last year. For the portion of the financial year up to March. 2 the gioss revenue showed an increase of £287,875, while the expenditure showed an increase of £331.594. The net result to the date mentioned was a decrease in the net revenue of £83.719, compared with the previous year. Included, in the working expenses was the cost of the 5 per cent, restoration of wages and salaries and the cost of rent adjustment which had been made during the year. The aggregate of these items to March 2 was approximately £166,000. There was one more period to go before the year ended, said Mr. Sterling, and he felt very sanguine that the forecast which he had made some months ago that the department would be able to cany the increased expenditure in which it had been involved, and at the same time return a net revenue equal t o that of last J ear would be realised.