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 £22,325,000 and the expenditure £22,151,835.

4

Particulars. Year ended 31st March, 1950. 1949. 1948. 1947. 1946. Total miles open for traffic Average miles open for year .. 3,526 3,526 3,526 3,526 3,526 3,529 3,528 3,528 3,528 3,511 Capital cost of opened and unopened lines Capital cost of open lines Capital cost per mile of open lines £83,290,485 £81,551,763 £23,129 £80,168,239 £78,796,320 £22,347 £78,658,928 £77,089,031 £21,863 £76,941,888 £75,354,243 £21,359 £76,012,797 £74,466,731 £21,107 Gross earnings Working-expenses NET EARNINGS £19,541,184 £20,596,740 £1,055,556* £18,597,728 £19,700,594 £1,102,866* £17,070,872 £17,710,897 £640,025* £15,680,057 £15,944,270' £264,213* £15,444,847 £14,384,844 £1,060,003 Interest charges £2,768,152 £2,710,318 £3,030,033 •£2,992,900 £2,889,195 PERCENTAGE OF TOTAL WORKING-EXPENSES TO GROSS EARNINGS 105-40 105-93 103 75 101 69 93 14 PERCENTAGE OF NET EARNINGS TO AVERAGE CAPITAL INVESTED IN OPEN LINES 1-47 Railway operating earnings Railway operating expenses .. NET RAILWAY OPERATING EARNINGS PERCENTAGE OF RAILWAY OPERATING EXPENSES TO EARNINGS £16,062,066 £17,360,913 £1,298,847* 108 09 £15,338,882 £16,788,256 £1,449,374* 109-44 £13,964,280 £15,090,091 £1,125,811* 108-06 £12,823,784 £13,644,779 £820,995* 106-40 £13,104,587 £12,549,724 £554,863 95-77 Operating earnings per average mile open Operating expenses per average mile open NET OPERATING EARNINGS PER AVERAGE MILE OPEN £4,555 £4,924 £369* £4,350 £4,761 £411* £3,957 £4,276 £319* £3,635 £3,868 £233* £3,732 £3,574 £158 Operating earnings per revenue train-mile Operating expenses per revenue train-mile NET OPERATING EARNINGS PER TRAIN-MILE d. 267-31 288-93 21-62* d. 264-93 289-96 25-03* d. 244-41 264-12 19-71* d. 233-70 248-67 14-97* d. 233-76 223•86 9-90 Passengers, ordinary Season tickets Total passenger journeys Goods tonnage Live-stock tonnage Train-mileage (revenue) Engine-mileage 7,881,255 1,402,789 25,895,253 9,237,119 711,142 14,420,852 19,948,306 7,708,049 1,387,961 26,167,845 8,941,290 724,840 13,895,488 19,452,353 8,111,417 1,347,671 25,887,189 8,766,293 757,750 13,712,103 19,354,353 10,222,325 1,358,453 28,869,135 8,548,471 780,862 13,169,233 18,705,901 13,553,083 1,369,572 32,417,675 8,388,191 822,275 13,454,508 18,855,174 * Loss recovered from vote, " Economic Stabilization."