D.—2

XVII

The particulars of the expenditure on train-operation are as follows : —

The operating expenditure per train-mile for all lines was 139*55 d., as against 137-82 d. for the preceding year, an increase of l-73d. per train-mile. The expenditure per train-mile on the North Island Main Line and Branches Section was 128-82 d., and on the South Island Main Line and Branches Section 153-71 d. Subsidiary Services Expenditure. —The expenditure in connection with subsidiary services was £383,004, as against £332,597 for the year 1926-27. The particulars of the expenditure in connection with subsidiary services are : — 1927-28. 1926-27. £ £ Lake Wakatipu steamers .. .. .. .. 15,627 15,859 Refreshment service .. .. .. .. .. 114,644 119,567 Advertising service .. .. .. .. .. 48,921 42,509 Departmental dwellings .. .. .. ..162,263 137,547 Leases refreshment-rooms, bookstalls, &c. .. .. 8,828 8,271 Road motor services .. .. .. .. ..32,721 8,844 £383,004 £332,597 Net revenue from subsidiary services (including miscellaneous receipts) £308,121 £233,364 Net Revenue. The Net Revenue Account from all services, after setting aside the sum of £284,102 for renewals and equalization funds and paying interest charges amounting to £2,130,867, shows a deficit of £291,452, as compared with a deficit of £99,659 last year. Particulars are shown hereunder :— £ Net earnings, train-operating .. .. . . .. .. 1,041,726 Net earnings, subsidiary services .. .. .. .. .. 308,121 1,349,847 Subsidy in respect of developmental lines .. .. .. .. 489,568 1,839,415 Interest charges .. .. .. .. .. •• 2,130,867 Deficit £291,452

iii-D, %.

1927-28. 1 Percentage )f Operating Revenue. 1926-27. Percentage of Operating Revenue. Maintenance—Ways and works Maintenance—Signals Maintenance—Rolling-stock Examination, lubrication, and lighting of vehicles .. Transportation—Locomotive Transportation—Traffic Head Office and general charges Superannuation subsidy £ 1,147,067 102,871 1,380,727 62,510 1.599,564 1,760,459 75,048 173,873 15-62 1-40 18-80 0-85 21-78 23-97 1-02 2-37 £ 1,074,334 100,861 1,303,444 60,095 1,609,257 1,752,998 82,287 175,007 14-47 1-36 17-56 0-81 21-68 23-61 1-11 2-36 6,302,119 85-81 6,158,283 82-96 Net operating revenue 1,041,726 14-19 1,265,189 17-04