RAILWAY LOSSES

Daily Telegraph (Napier), Volume 58, Issue 171, 21 August 1929, Page 8

RAILWAY LOSSES

From Our Special Parliamentary Reporter.

DEB1T UX A NOX-PAY1XG LIXE.

MELLINGTON, This day. Much has been heard in the House tliis session about the cost of tbe M'ai-otira-Kirikopuni railway in the North Auckland district. At tlie request of Mr MU E. Barnard, a return was furnislied in the House giving details in regard to the financnig of tlie line. It is shown tliat tbe revenue from tbe line for tlie year ended March 31 last was £2494 10s 10d, to which must lie added the feeder value of the main line.s of traffic to and from tlie railway, amounting to £2648 Is 3d. Tbe total revenue credited to the. railway was £5142 15s Id. Tlie working expenses during tlie same period were £7480 13,s 8d and tlie interest on tbe cost of conslruction. including rolling stock, was £38,089 18s lld. Tbe net loss on tlie railway for tlie period from Mav 15, 1928 to March 2, 1929, al'ter allowing for all debit ilenie, including interest on cost of construction, was £40.127 17s 6d. Tn accordance with a niotion by Mr T. W. McDonald, a return was also presented in rcspect to the cost of tbe now railway workshop.s tbrouglioub tbe Dominion. Tlie estiniatcd agirregate cost of tbe ro orga nisnlion of Ihe Avorkshops. inelndinrr cquipincnl . is sbown as 02.279.159 Tbe scparale coel of oaoh'worksliop is as follows; - Olalnilni £586,551 llntt £777,912 Addington £387,119 Hillside £195.385 East Town £32,189