STATEMENT No. 2. Income and Expenditure of the Whole Undertaking for the Year ended 31st March, 1926.

D.—2.

Net Revenue Appropriation Account. Dr. £ s, d. Or. £ s. d. To Appropriation to Betterments Fund 58,000 0 0 By Net Revenue Account .. .. 79,022 16 9 Balance carried forward .. .. 21,022 16 9 £79,022 16 9 £79,022 16 9 H. Valentine, Chief Accountant.

Net Revenue Account.

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Year 1925-26. I Year 1924-25. Statement I No. Gross Revenue. Expenditure. Net Revenue. Gross Revenue. Expenditure. j Net Revenue. j | | I s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. Railway operating .. .. .. .. 3 7,589,274 2 6 6,164,569 14 1 1,424,704 8 5 7,014,648 13 7 5,533,136 3 11 1,481,512 9 8 Lake Wakatipu service.. .. .. .. 4 10,625 0 0 15,612 14 1 I Dr. 4,987 14 1 10,096 2 4 12,279 6 10 Dr. 2,183 4 6 Refreshment service .. .. .. .. 5 133,657 14 6 119,585 9 0 14,072 5 6 104,796 14 0 99,996 14 0 4,800 0 0 Advertising service .. .. .. .. j 6 45,454 5 2 31,238 12 2 14,215 13 0 30,731 1 3 29,647 2 5 1,083 18 10 Dwellings .. .. .. .. .. | 7 68,661 4 3 129,907 9 10 Dr. 61,246 5 7 , 52,572 0 0 34,203 0 0 18,369 0 0 Refreshment buildings, bookstalls, &c. .. .. [ 8 19,062 1 11 7,513 19 7 11,548 2 4 13,347 0 0 390 0 0 12,957 0 0 Miscellaneous revenue .. .. .. I .. 234,486 13 5 .. 234,486 13 5 50,569 11 0 .. 50,569 11 0 Subsidies, branch lines and isolated sections .. j 10 359,540 8 6 .. 359.540 8 6 8,460,761 10 3 6,468,427 18 9 7,276,761 2 2 5,709,652 , 7 2 , Total net revenue to Net Revenue Account .... .. .. 1,992,333 11 6 .. .. 1,567,108 15 0

Dr- 1925-26. 1924-25. Cr. 1925-26. | 1924-25. £ s. d. i £ s. d. £ s. d. £ s. d. To Interest on capital .. .. .. .. 1,913,310 14 9 1,654,845 4 10 By Net earnings before charging interest on capital .. 1,992,333 11 6 1,567,108 15 0 Surplus for year 1925-26 carried to Net Revenue 79,022 16 9 .. Deficit for year 1924-25 .. .. .. .. 87,736 9 10 Appropriation Account ; • 1,992,333 11 6 | 1,654,845 4 10 1,992,333 11 6 1,654,845 4 10 l_