D—2
II
The accumulated amount standing to the credit of the Government Railways Superannuation Fund on the 31st March was £346,156, an increase of £50,686 over the balance at credit on the 31st March, 1914. The total income for the year was £138,829, and the outgoing £88,143. Of the latter sum, £77,036 represented payments to 916 members of the service retired voluntarily or by reason of being medically unfit, 212 widows and 321 children, dependants on deceased contributors to the fund, who had not retired on superannuation at the time of their death. The income from actual contributions of subscribers amounted to £75,023, while the charges on the fund were £79,936. The total contributions were, therefore, £4,913 short of the liabilities. The receipts are, however, supplemented by the Government subsidy of £25,000 per annum and amounts accruing from interest on funds invested and fines imposed under the Railway Regulations. These amounted last year to £13,795.
EESULTS OE WOEKING. The following is a summary of results of working, for year ending the-"3lst March, 1915, as compared with 1914: —
Year ended 31st March. Pabticulabs. 1914. 1915. Total miles open for traffic 2,863 2,955 Average miles open for year 2,861 2,917 • Capital cost of opened and unopened lines £34,980,576 £36,133,155 Capital cost of open lines £32,355,087 £34,133,825 Capital cost per mile of open lines ... £11,309 £11,551 Gross earnings ... ... ... ... £4,043,328 £4,105,457 Working-expenses ... ... ... ... £2,880,323 £2,920,455 NET PROFIT ON WORKING ... .[£1,163,005 £1,185,002 PERCENTAGE OF PROFIT TO CAPITAL INVESTED - ... .. ... 361 361 353 I PERCENTAGE OF WORKING-EXPENSES TO EARNINGS ... ... ... 7124 71-24 7114 Earnings per average mile open £1,416 £1,410 Working-expenses per average mile open £1,008 £1,002 NET EARNINGS PER AVERAGE OPEN... MILE £408 £408 Earnings per train-mile ... Working-expenses per train-mile NET EARNINGS PER TRAIN-MILE d. 104-00 74-00 3000 d. 104'75 74-54 3021 'assengers, ordinary ... 13,355,893 13, 565,'/72 leason tickets 287,037 302,912 roods tonnage ... 5,661,340 6,075,282 jive-stock tonnage 358,293 378,190 .Vain-mileage 9,319,268 9,383,420 locomotives 534 557 'assenger-cars 1,363 1,397 Vagons and brake-vans ... 20,251 21,226