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D—2

STATEMENT No. 2 Income and Expenditure of the Whole Undertaking for the Year ended 31st March, 1947

Net Revenue Account

Year 1946-47. Year 1945-46. Statement No. Gross Revenue. Expenditure. Net Revenue. Gross Revenue. Expenditure. Net Revenue. £ £ £ £ £ £ Railway operation 3 12,823,784 13,644,779 Dr. 820,995 13,104,587 12,549,724 554,863 Lake Wakatipu steamers .. . j 9a 12,501 16,477 Dr. 3,976 10,671 19,527 Dr. 8,856 Refreshment service 9a 340,798 333,467 7,331 366,148 339,126 27,022 Bookstall service 9a 205,180 202,459 2,721 183,827 179,803 4,024 Advertising service 9a 47,925 37,701 10,224 40,304 32,758 7,546 Dwellings 9a 159,816 279,598 Dr. 119,782 158,266 270,998 Dr. 112,732 Buildings occupied by subsidiary services 9a 53,851 41,002 12,849 48,003 33,821 14,182 Road motor services 9a 1,555,686 1,388,787 166,899 1,098,944 959,087 139,857 Miscellaneous revenue - 480,516 480,516 434,097 434,097 15,680,057 15,944,270 15,444,847 14,384,844 Total net loss to Net Revenue Account 264,213 Total net revenue to Net Revenue Account 1,060,003

Dr. 1946-47. 1945-46. Cr. 1946-47. 1945-46. Net loss before charging interest on capital Interest charges £ 264,213 2,992,900 £ 2,889,195 Net earnings before charging interest on capital Receipt from vote " Stabilization " .. Reduction on account of interest charges, vide section 14, Finance Act, 1930 (No. 2) £ 264,213 2,992,900 £ 1,060,003 1,829,192 3,257,113 2,889,195 3,257,113 2,889,195