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1909. NEW ZEALAND.

RAILWAYS STATEMENT (13th October, 1909). BY THE MINISTER OF RAILWAYS, THE HON, J. A, MILLAR.

Mr. Speaker,— In presenting my first Kailways Statement, that for the year ended 31st March, 1909, I have to announce that the results of the year's operations, when compared with those of the previous year, have on the whole been satisfactory, and may be summarised thus :— Year 1909. Year 1908. £ _ Total earnings 2,929,526 2,761,938 Total expenditure 2,114,815 1,949,759 Net profit on working £814,711 £812,179 GENERAL. ■ The mileage of line open for traffic on the 31st March, 1900, was 2,082 miles, against 2,471 miles for the previous year. The average miles operated during the year was 2,556. The following extensions were opened during the year : — M. oh. Douglas-Huiroa ... ... ... ••• ••• ••• 4 59 Mount Egmont Branch ... ... ... ••• ••• «5 2 Tauhoa-Wayby ... ... ••• ••• ••• ••• 3 50 Puha-Waikohu ... ... ... ■•• ••• ••• 3 25 Mataroa-Taumarunui ... ... ... ••■ ... 84 58 Reefton-Cronadun... ... ... ••■ ■■• •■• 5 31 Waikaka Branch ... ... ... ••• ••• ... 12 57 Tadmor-Kiwi ... ... ... ••• ••• ••• 5 15 125 57 In addition, the Government acquired the Wellington and Manawatu Company's line, between Wellington and Longburn, 83 miles 67 chains. The mileage of State-owned railways was thus increased during the year by 209 miles 44 chains. The capital cost of lines open for traffic has increased from £24,365,647 last year to ,£27,762,592 for the year under review. The net revenue, £814,711, is equal to a return of 3-13 per cent, on the capital invested in the open lines, and 2'Bo per cent, on the total capital (£29,052,432) invested in open and unopened lines. The expense of working the Kawakawa and Kaihu Sections exceeded the gross revenue, the deficit being—Kawakawa £1.408, and Kaihu £310. The total train-miles run during the year was 7,458,236, an increase of 406,962 miles over the preceding year. The increased train-mileage represents additional facilities mainly in the North Island main line and branches. It is

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