D—2

RESULTS OF WORKING. The following is a statement of the results of working for the past five years:— - :

For the current year it is anticipated that the revenue will reach £14,130,000 and the expenditure £11,204,000.

3

Year ended 31st March, Fabtioclabs. 1943. 1942. 1941. 1940. 1939. Total miles open for traffic .. .. 3,460 3,390 3,390 3,390 3,319 Average miles open for year.. .. 3,403 3.390 3,390 3,371 3,319 Capital cost of opened and unopened lines £73,951,515 £73,723,223 £73,048,958 £71,087,455 £67,075,908 Capital cost of open lines .. .. £68,685,063 £64,904,020 £64,762,794- £63,059,188 £58,676,608 Capital cost per mile of open lines .. £19,851 £19,146 £19,104 £18,602 £17,679 (777e7r~7ngs .. * .. .. £14,128,993 £11,938,338 £11,160,218 £10,199,070 £9,345,387 Working-expenses .. •• £11,302,413 £10,056,034 £9,465,574 £9,010,039 £8,644,324 NET EARNINGS .. •• •• £2,826,580 £1,882,304 £1,694,644 £1,189,031 £701,063 l777777rge7 ™ •• £2,622,713 £2,756,146 £2,746,544 £2,575,196 £2,418,116 PERCENTAGE OF TOTAL WORKINGEXPENSES TO GROSS EARNINGS 79-99 84-23 84-82 88-34 92-50 PERCENTAGE OF NET EARNINGS TO AVERAGE CAPITAL INVESTED IN OPEN LINES .. .. 4 *31 2-90 2'64 1-96 1-23 .. £12,415,080 £10,383,880 £9,694,190 £8,761,637 £8,005,059 Railway operating expenses .. .. £10,019,659 £8,902,592 £8,406,790 £7,943,120 £7,663,632 NET RAILWAY OPERATING EARNINGS £2,395,421 £1,481,288 £1,287,400 £818,517 £341,427 PERCENTAGE OF RAILWAY OPERATING EXPENSES TO EARNINGS .. 80-71 85-73 86-72 90-66 95-73 Operating earnings per average mile open £3,648 £3,063 £2,860 £2,599 £2,412 Operating expenses per average mile open £2,944 £2,626 £2,480 £2,356 £2,309 NET OPERATING EARNINGS PER AVERAGE MILE OPEN .. .. £704 £437 £380 £243 £103 d. d. d. d. d. Operating earnings per train-mile .. 196-81 178-28 171-58 157-31 146-96 Operating expenses per train-mile .. 158-83 152-85 148*80 142-62 140-70 NET OPERATING EARNINGS PER TRAIN-MILE .. . • • • 37-98 25-43 22-78 14-69 6-26 7a7enger7 7rdir7r y .. .. 17,171,214 11,105,627 9,440,087 8,283,067 7,813,436 Season tickets 1,377,825 1,167,115 1,055,742 972,769 888,84-4 Total passenger journeys .. .. 36,133,268 28,610,945 26,276,923 24,454,014 23,265,768 Goods tonnage 8,035,046 7,734,650 7,754,768 7,077,298 6,917,257 Live-stock tonnage .. .. •• 852,043 739,115 671,414 596,652 621,755 Train-mileage (revenue) .. .. , 15,139,882 13,978,961 13,559,646 13,366,798 13,072,615 Engine-mileage 20,736,574 19,147,871 18,625,115 18,199,622 17,817,799