RAILWAYS FINANCE.

Dominion, Volume 5, Issue 1455, 1 June 1912, Page 4

RAILWAYS FINANCE.

Js the. course of his -speech ai ] Opunate .Mr.- Mackenzie quoted■', sonic- figures; fi:o;m the* acc.pMnts of the railways, for tho; fin.riircial.yea.r 19 £1-; 15, but :h : s. failed to .-gj-vi? the present: ■cost of 'this.- ■whole: system or -to- touch.; upon the -one really outstanding-■ feature, of the Jea : r's working. This,. o:f. -c.pu.rse.i is tiro fact that the profits. extracted from tils. No.r-t'h Island; lines- c/tten up by .the enormous.' losses , ■on the Smith .Island systems-' losses that ate growing a-la.i:niijsgly" licavy; We S month ago that: ih-e net revenue jrprri. the Southern lines , tyas actually less than- in tli'e. : ■ preceding . unp.r.ecedentipdfact,, w:e Ijclipvp. Last jiJgiit's Gi&tU; gives the. fig,ui-es-- for the. first four-' wpeks of , the csuirerit- financial , ye&'r':," ■.jn.cl we note . Kith- .regret that the drift to the- : -b's3 : stUrgoes on in -the ,, 1 Sput.h... W.e .give, the .not, revenue in; tli.e. two islands for the. four, weeks .in. the. iollpwihg. table, where: the cor-i .figures in Iftl-l are -also sh.o.wrK—"

Increase or 19(1 10.12 decrease. ■ £ ■■ ■■ «£■- ■£' ■ Jvqrtli ?1;,3& ((.Qfltinc : Smih Him 70,371 7i»fe ji is. npt as : if tliis were -a;n i.splafcxl tak)}{ the/ 1 ilccrfcaSg: .has, been cdntinji.--pus'in. t% for n).orih.Sv ; d.ue in pa-rt to ■.rnve.ti.i.ie dulncs's , and in. pa'ri ,t.oV-tho,gay , ,b!iPy.aricy of expenditure-.'; ffi orcier, lor exahtjije tp .-raise- iE^O: , more:, gro'ssi r.e.ve.n.uC' in the -Sfiutli in ' :the"peripcljuti.d.ev .liotite,, theyiliaaitp ;iri.preas;e' the expenditure; ■there J)y' (jvpr £,76p0-!-.: 01. cpurse..|hci;e: is. thing .n;ew..i'h this. deplora-lele state, ,Wliat thp public jy-ill-.-jvq'n..-H6t: t :a'nd what sho.iild , . ,ask 5 is. W:hy llii.a soi-i of thing: hag■: Mqcii. toje'ratepl. for so? long?. 'Tlipiie ■is , iflileed; iirgehfc .hced for inc[uir-y< nja'nafeemeht; tlirit.ME;. , Mackenzie vagiic'lj? Heclrtres. tq'.be , ?-■. thing he is ; cphsidering... W,e w.a'nt. to .s.ea'/the..position;, in the, South pjacecl p.ii a soiuider fpo.tirig, .-npfc .fpr : the- sake of. ths -S.Qrtth Island alonp.. : b> of the. .overAuMened: .users.of North Island alane. biiSipr tihje sslkeof -fhe , whole coiint.ry.i T.here is ■ten.ness some>vie.r.B> and, it niust be ■Qat put. II the present mail-' agpm.erit cannot 4q anything,. iV.ra.usfc b&ct.pne away with.