MONEY.

Dominion, Volume 2, Issue 507, 14 May 1909, Page 5

MONEY.

■ \■ j'Sl. v'' A''' /-C .V'V'-.v STATEMENT BY'THE PREMIER. . • . CBI TSHSQBArH—MES3-ABSOCIATtO:;.) . i Chrlstchurch, May 13. A-...- Ini the course-of an interview Sir Joseph . "Ward stated . that the itheory that money is : .being sont out .of New Zealand was : not borne . out: by .facts.. Moro .money''ia coming into ■. tne.sDominion by very;;largo: amounts,. Tunning into a few millions, during tho past year . or vtwo,than is going out of it in every ; .shape, and form/ In addition, monoy: is being offered to the Government for Governmental }* purposes Jrom- Australia, and as he had already stated -in one instance a sum 1 of £250,000; had been offered.: All thetheorising in the world could not discount:what.is abso- ■ 'ute'fact,, and is on .record. -. - THE NEW RAILWAY POLICY .FURTHER EXPLANATION BY THE MINISTER. V■:ViX TlLßaftAni-rIMtRSS ASSOCIATION.) , , > Chrl'stchuroh, May 13. ■. .'Tho Hon. J. A.-Millar's irecent'-statement . jn,regard to tho probable reduction of services • ;■ ;. on.branch lines has occasioned some perturba-. ' ; i ; tion,ih districts .which 'inay':.be affected. In ; reply to a question -as to : the system on which ; - ' .. he-was working; Mr/ -Millar made aninterest- j . ing statcmont. \ ; • "I am getting full Teturns made covoring a : ■ period of years regarding.all the branch lines . in Now Zealand," ho said. - "Wherever it is: . shown jfchat there is: a train service in excess > of -what ;is proved by the actual . returns ot ! , suchbranchosto bo necessary the question ;of. . reducing will be considero:!. The Department' . cannot continue running five or six.trains a' ;. found'"-thiiV . , three trains will amply, cope with tho whole , : traffic.' ;Aa; trada to.any: place increases the ; strain will ;b6ViricreaiM to ;'deal;. with-t-he'tmsinosaof tho branch. We cannot offer. fo^;^6ple"to'travel:if the.result only; ! ' a '4^ e ? ; 7^ ■.•■loss;.-,pntli-e ~ 'Department/; Wherebrtmch lines' are showing over a" poriod l of years that "they are earning s, vfiry small per-' c ® -on itheir? cost': it 'will'benecessary-to' lessen-tho loss on those lir.es by making. ■;; time-tables', .which: will Biiittlio actual .'.trade: of the district. At tho same timo, I do not - /expect, nor do I desire, that'brahchT line* shall earn tho same rate of interest/that oui - : main , lines ought to earn jor even approrti- . mate, the full rate of interest, 1 because a'certain percentage must be allowed-them for actv■' J D 2 as . feeders .to . tho main lino; but where . branch lines are only showing half one por :;' °ent., with existing services'it. will be necessary to insider whether; their working expenses will-not have to be reduced. "What-" ever I do tin reduction of trains I am pro- ■■ <' to; show by actual .figures, 1 over' a series .' 'years, that 'there'is justification for;reduc-, tion or for, refusal of Requests for- increased ; neewnreodstion.. lam not going at it in- a . ; hftphazard; fashion.-;-, Taking the actual -re- ; ; venue:and expendituro of lines'l .will bo able to clearly, justify my actions* ' Cases which . seemed .to. me.. : mo3tiurgent:and- were show-- . ing biggest losses have'been dealt with first, .and;as.each, district return comes in.it will-bo dealt with. I have no Uko aVay anything that has been granted , jt .we can possibly, avoid doing so.v;: It is only 1 ;- m cases where very considerable ; losa has been ■ -; ;; . inown .that action .win^bo'takin:''