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1899. NEW ZEALAND.

RAILWAYS STATEMENT. (1st August, 1899.) BY THE MINISTER FOR RAILWAYS, THE HON. A. J. CADMAN.

Mr. Speaker,— In presenting this my fifth annual Eailways Statement, I have again to congratulate the House and the colony on the remarkable expansion of our railway business. I will review the transactions of the year in the same order as last year, viz. : First, the transactions as a whole, under the heading of " General "; second, "Earnings"; third, "Working-expenses"; fourth, "Expenditure for Additions to Open Lines and Boiling-stock charged to Capital Account " ; fifth, " Midland Eailway (results of working) " ; sixth, " Concluding Eemarks and Forecast." 1. GENBEAL. The number of miles now open for traffic is 2,090, as against 2,055 last year. The revenue for 1898-99 has been ... ... ... .. £1,469,665 1897-98 ... ... ... ... 1,376,008 An increase of ... ... ... ... £93,657 The working-expenses for 1898-99 have been ... ... ... £929,738 1897-98 ... ... ... ... 857,191 An increase of ... ... ... ... £72,547 The excess of revenue over working-expenses for 1898-99 has been £539,928 1897-98 ... 518,817 Giving an increased net return of ... ... £21,111 The rate of interest earned on the capital cost of the open railways (£16,404,076) has been £329 per cent., against £3-24 per cent, last year, as compared with Victoria, £2-49; Queensland, £2-93; South Australia, £269; Tasmania, £TO7 ; New South Wales, £3-75; and Western Australia, £4-62. (See Eeturn No. 15.) The opening of the all-Government route to Napier, Wanganui, and New Plymouth, via the Wairarapa, has resulted in increased business and profit to the State railways. The interest earned by this system of railways has increased from £2 16s. 9d. per cent, for 1897-98 to £3 os. Bd. per cent, for 1898-99. The extensions from Whakapara to Waiotu, 3 miles 26 chains ; Paeroa to Thames, 19 miles 20 chains ; Kokonga to Eanfurly, 1J miles 13 chains—a total of 33 miles 59 chains—have been opened during the year. (See Eeturn No. 22.) The opening to the Thames is an event of great importance. From the date of the opening—l9th December, 1898—to the close of the financial year on the 31st March, 1899, 36,876 passengers have travelled over the extension, and there is every prospect of this line developing a good passenger business. As forecast in my last year's Statement the through train services between New Plymouth and Wanganui have been doubled, and arrangements have been

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