RAILWAYS LOSS
Big Cut On Last Year
(NZ. Press Association) WELLINGTON, May 19. I*ie Railways Department for the year ended March 31, 1951. incurred a loss of only £62.759, excluding interest charges, as compared with a loss of £563,133 for the previous year.
This improvement of £500.374 was achieved although £1.047.000 more than the previous year was spent to meet increased salary and wage rates and additional overtime payments because of continuing staff shortages. In announcing this today, the Minister of Railways (Mr McAlpine' said the revenue for the year was £36.239.000 and that the goods carried had reached an all-time record of 10.819.000 tons. This record tonnage represented a 2.6 per cent, increase on the previous year and a 1.3 per cent, increase on the earlier 1956 record. “I should like to commend both the management and the staff on the satisfactory outcome of the year’s operations which will be shown in detail when the annual report is presented to Parliament," Mr McAlpine said.
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Press, Volume C, Issue 29518, 20 May 1961, Page 16
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165RAILWAYS LOSS Press, Volume C, Issue 29518, 20 May 1961, Page 16
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