D.—2,

RESULTS OF WORKING. The following is a statement of the results of working for the past five years : —

For the current year it is anticipated that the revenue will reach £7,695,700, and the expenditure £6,520,001.

VI

Year ended 31st March, Particulars. 1 — 1936. 1935. 1934. 1933. 1932. Total miles open for traffic .. .. 3,320 3,320 3,320 3,315 3,315 Average miles open for year.. .. 3,320 3,320 3,304 3,315 3.315 Capital cost of opened and unopened lines £59,611,834 £59,477,143 £59,337,9.17 £59,228,894 £59,055,701 Capital cost of open lines .. .. £54,253,059 £54,089,190 £53,909,347 £51,480,949 £51,424,883 Capital cost per mile of open lines .. £16,341 £16,292 £16,238 £15,530 £15,513 Gross earnings .. .. .. £7,004,316 £6,627,928 £6,332,711 £6,034,403 £6,508,948 Working-expenses .. .. .. £5,952,839 £5,540,437 £5,247,153 £5,183,859 £5,670,955 NET EARNINGS .. .. £1,051,477 £1,087,491 £1,085,558 £850,544 £837,993 Interest charges .. .. .. £2,300,051 £2,330,886 £2,282,365 £2,230,655 £2,221,465 PERCENTAGE OF TOTAL WORKINGEXPENSES TO GROSS EARNINGS 84-99 83 59 82-86 85-91 87-13 PERCENTAGE OF NET EARNINGS TO CAPITAL INVESTED .. .. 1-94 2*01 2-05 1'65 1-64 Railway operating earnings .. .. £6,243,519 £5,908,064 £5,628,835 £5,339,075 £5,788,965 Railway operating expenses .. .. £5,523,193 £5,138,588 £4,877,146 £4,833,754 £5,301,653 NET RAILWAY OPERATING EARNINGS £720,326 £769,476 £751,689 £505,321 £487,312 PERCENTAGE OF RAILWAY OPERATING EXPENSES TO EARNINGS .. 88-46 86*98 86-65 90-54 91-58 Operating earnings per average mile open £1,881 £1,780 £1,704 £1,610 £1,746 Operating expenses per average mile open £1,664 £1,548 £1,476 £1,458 £1,599 NET OPERATING EARNINGS PER AVERAGE MILE OPEN .. .. £217 £232 £228 £152 £147 d. d. d. d. d. Operating earnings per train-mile .. 135-60 133-44 132-92 130-37 136-63 Operating expenses per train-mile .. 119-96 116-06 115-17 118-03 125-13 NET OPERATING EARNINGS PER TRAIN-MILE .. .. .. 15-64 17-38 17-75 12-34 11-50 Passengers, ordinary .. .. 7,963,824 7,809,035 7,511,346 6,870,570 6,503,566 Season tickets .. .. .. 482,146 457,546 442,742 437,775 459,063 Total passenger journeys .. .. 20,358,524 19,654,467 19,047,186 18,366,654 19,151,480 Goods tonnage .. .. .. 5,618,477 5,444,977 5,093,396 4,945,592 5,272,253 Live-stock tonnage .. .. .. 570,328 578,983 548,803 545,094 552,558 Train-mileage .. .. .. 11,050,376 10,626,400 10,163,474 9,828,853 10,168,720 Engine-mileage .. .. .. 14,923,175 14,277,710 13,591,390 13,265,878 13,845,966