LOSS ON RAILWAYS.

Manawatu Standard, Volume XLIX, Issue 252, 23 September 1929, Page 7

LOSS ON RAILWAYS.

SECOND MONTH WITH DEFICIT,

HEAVY WORKING EXPENSES. WELLINGTON, Sept.. 21. A loss on operation is again shown by the Railway Department’s working account for the four months ended August 17.’ The net result for the month was. that working expenses exceeded earnings by £4148, whereas ill the corresponding period of last year there was a working profit of £34,032. Tho gross earnings were £571,787, which is £19,979 more than last year, but working expenses increased by £58,159 to £575,935. Earnings by the North Island railways amounted to £297,608, an increase of £4413, but working expenses, £294,396. show an increase of £23,422. In the’ South Island the. operating revenue was £216,912 and expenses £242,648. The increase of £7534 in the former was more than offset by the growth of £31,165 in expenses. Net miscellaneous revenue was £18,376, which is £4459 more than last year. The following is a summary of the net revenue for the five periods of the current financial year:— North. South Other Island. Island. Sen-ices. Totals. £ £ £ £

♦Excess of working expenses. The working profits for the 20 weeks are £69,929 lower than the corresponding total last year and £85,071 less than in 1927. The former reduction comprises a decline of £57,151, equivalent to 31.5 per cent, in the net revenue of the North Island railways, and of £17,654 (27.5 per cent.) in that of the South Island railways. Miscellaneous services have produced £4876 more net revenue.

45,254 41,985 20,126 107,365 55,632 49,667 16,447 121,746 19,312 11,838 21,399 52,599 563 *31,283 22,141 *8,579 August 17 3,212 *25,736 18,376 *4,148 Total £123,973 £46,522 £98,489 £268,984