N.Z. STATE RAILWAYS.

Waikato Times, Volume 96, Issue 15864, 8 December 1923, Page 8

N.Z. STATE RAILWAYS.

DO THEY PAY? (By Telegraph.—Special to Times.) WELLINGTON, Thursday. The Wellington delegates, who attended the recent conference of the | associated Chambers, reported to the members of their own Chamber yesterday, "we must ask ourselves, 'Do the Government railways pay' and in< this is wrapped up the question of the rates fixed as well as of unremunerative lines.,. The latter are more a matter for the management of the railways itself,' but : we, as members •>'< the business'community, are vitally ininterested in the rates as laid down in the tariff from the point of view whether they give a payable return for the large amount of capital that this country has invested in this public utility. The railways at March 31, 1923, were operating 3028 miles of line, the capital cost of which was £40,275,161, and there were also lines under constructon which had cost to that date £O,275,910, making a total amount of £46,851,071 invested in our railways. an asset forming part of-our national debt which in other countrie-s is usually represented by private capital." The delegates have gathered important material for calculating the cost of the railways.but they have not yet provided the figures required for a comprehensive balance sheet.