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1901. NEW ZEALAND.

RAILWAYS STATEMENT. (4th September, 1901.) BY THE MINISTER FOR RAILWAYS, THE HON. SIR J. G. WARD, K.C.M.G.

Me. Speakek,— In presenting my second Eailway Statement, I am very much gratified to have to announce that the year's operations of our railways have again been most satisfactory, and show a very large increase on the business of the preceding year, notwithstanding the fact that the latter was a record year. I purpose subdividing my remarks under six headings—viz., "General," "Earnings," "Working-expenses," "Expenditure for Additions to Open Lines and Boiling-stock chargeable to Capital Account," " Midland Eailway," and " Concluding Eemarks and Forecast." 1. GENERAL. The mileage of line open for traffic at the end of the year under review was 2,212 miles, against 2,104 for the previous year. The revenue for 1900-1901 was ... ... ... ... £1,727,236 Against revenue for 1899-1900 ... ... ... ... 1,623,891 An increase 0f... ... ... ... £103,345 The increases in revenue for the past six years are shown by the following figures : — Tear ending 31st March, 1896, over year ending 31st March, 1895 £32,190 1897, „ 1896 103,117 1898, „ 1897 89,850 1899, „ 1898 93,657 1900, „ 1899 154,226 1901, „ 1900 103,345 A total increase of ... ... ... £576,385 The working-expenses for 1900-1901 have been ... ... £1,127,848 Against ditto for 1899-1900... ... ... ... ... 1,052,358 An increase oi ... ... .. ... £75,490 The excess of earnings over working-expenses for 1900-1901 has been £599,389 Against ditto for 1899-1900... ... ... ... ... 571,533 An increased net return for the year of ... £27,856 The capital cost of the lines open for traffic has increased from £16,703,887 last year to £17,207,328 for the year under review, and the interest earned thereon has increased from £3-42 per cent, last year to £3-48 per cent, for year ending 31st March, 1901. The interest earned on our lines thus compares very favourably with the interest earned on capital cost by the railways in the sister States—viz., Victoria 3 - 07, Queensland. 2 - 67, South Australia 3*51, Tasmania 1-11, New South Wales 3-63, and Western Australia 5-81. (Vide Eeturn No. 15.)

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