D.—2

1894. NEW ZEALAND.

ANNUAL REPORT ON WORKING RAILWAYS BY THE NEW ZEALAND RAILWAY COMMISSIONERS.

Presented to Parliament in pursuance of " The Government Bailways Act, 1887."

To the Hon. the Minister for Public Works. N.Z. Government Eailways, Head Office, Sir, — Wellington, 16th June, 1894. We have the honour, in compliance with the direction in section 61 of " The Government Eailways Act, 1887," to submit, for presentation to Parliament, the annual report on the working railways of New Zealand for the twelve months ended the 31st March, 1894. Bevenue, Expenses, and Traffic The returns of traffic, revenue, and expenses of the various sections of railways are presented in the same tabular form as in the annual reports of former years. Full details are given therein, under the various headings, and afford the means of comparison with those of other similar periods. The result of the year's work is as follows :— £ s. a. Gross earnings .. ... ... ... ... 1,172,792 17 2 Working-expenses ... ... ... ... 735,358 15 1 Net profit ... ... ... £437,434 2 1 This gives a return of £2 17s. 9d. on £15,137,036, the capital cost of the working railways. The increase on the capital sum since last year is £403,916, due to 61 miles of new line being added to the system —viz., Putaruru to Tarukenga, on the Eotorua line, 23 miles 5 chains; Eangatira to Mangaonoho, on the Hunterville branch, 3 miles 72 chains; Greymouth to Hokitika, 24 miles 17 chains; Ngakawau to Mokihinui, 7 miles 12 chains ; Blenheim to Omaka, 2 miles 43 chains. These extensions, while generally of great advantage to their respective localities in opening up new country, and giving access to timber, coal, and settlement areas, thereby enlarging the productive powers of the colony, do not, and cannot be expected to add much to the net profit until such times as these resources and their attendant industries are developed. In such cases the question is not so much " Will the road or railway pay ? " as " Is the district worth opening up by such means? " There are extensive areas in the colony, especially in the North Island, which for productive purposes are useless until opened out by roads and railways. The number of passengers carried has increased both in respect of ordinary and season tickets —on ordinary tickets an increase of 213,657, the number for this year being 3,972,701, against 3,759,044 last year, chiefly in the second class ; on season-ticket journeys this year 2,020,926, against 1,986,729 last year, an increase of 34,197. I—D. 2.