THE RAILWAYS

Dominion, Volume 13, Issue 14, 11 October 1919, Page 8

THE RAILWAYS

ANNUAL STATEMENT TO

PARLIAMENT

OPERATIONS REVIEWED

IMPROVEMENTS IMPERATIVELY i NIiCLSSAIiY

The Railways Statement was presented to the liouso of Representatives last night by the Minister of Railways (Right lion. W. I l '. Massey). The Minister reports that notwithstanding the exceptional conditions that prevailed during tlie greater part of the\ear ended March 31, 1919, the gross receipts amounted to £4,988,632, which constituted a record for tile Dominion. This was an advance of £300,932 on the earnings for the year elided March 31, 1918, and £263.632 in excess of tho estimated revenue. The following figures give a summary of tho results Year 1919. Year 1918. £ ■£ Total earnings '1,988,632 *1,687,700 Total expenditure 3,305,575 3,012,907

Net profit on working ... £1,680,037 -C1,0H,703 Tho mileage of lines open for traffic on March 31, 191!), was 2993,' no new extensions being opened during the year. The capital cost of lines open for traffic; including the steamers and plant on Lakv Wakat.pu, increased from £36,001,432 to £36,167,631. The net revenue, X 1,680,057, was equal to 'a return of 4.65 per on the capital uivested in tho lines open for traffic, and 4.28 per cent, on the capital (.£39,260,882) invested in the opened and unopened lines. Tho gross receipts per'train-mito for all lines amounted to 1G0.00d., against 150.50 d. for the previous 3-ear, an increase of 9.50 d. per tmin-mCc. The receipts per train-mile from the North Island main lino and branches .wore 1G1.00d., against 150.25(1. fur tho previous year, an advance of 10.75 d. Tho South Island main line and . branches produced a gross return of 159.00 d., against 149.25 d. last year, an increase of !!.-!>7d. Tho expenditure for the year, £,*!,308,575, was ,£265,668 more than the previous year, and ,£64,344 over the estimate. The percentage of working-ex-penses to earnings was 66.32 per cont., against 64.91 per cent., last year, an increase of 1.41 per cent. Tho sum of ,£85,708 was expended under the head / "Additions to open lines" in providing additional rolling-stock, tarpaulins, workshop machinery, Westingliouso brake, telegraph, telephone, and tablet facilities, purchase of land, additions to workshops, new locomotive denits, etc. During the year one new heavy tank engine, one bogie car, and 143 new wagons were built in the workshop?, and put into traffic. Fourteen engines, thirty. nine 1 cars, fifteen brake-vans, and 909 wagons were on order or under construction at Hie end of tihe year; Owing to the great shortage of material the. building programme has been greatly retarded. Results of. Working. The following is a summary of the results of working for the year ended March 31, 1919, as compared with 1918:Particulars. < 1918. ( 1919. Total miles open for traffic 2,993 2,9911 Average miles open for year 2,977 2,993 Capital cost of opened and unopened lines -£38,798,163 ,£39,260,882 Capital cost of open lines <£36,001,432 £36,167,651 Capital cost per mile of open lines - =£12,029 ,£12,081 Gross earnings ... .£4,687,700 , £4,988,632 Working expenses ,£3,042,907 Net profit on worklug ,£1,644,793 .£1,650,057 Percentage of profit to capital invested ....: 4.60 4.65 Percentage of working expenses to earnings 64.91 66.32 Earnings per average mile open ,£1,578 d£l,G7o Working expenses per average mile ' ' " open £1,023 £1,107 Net earnings per average mile opeii £555 £563 ■ d." d. Earnings per train mile 150.50 160.00 Work'- - expenses per 'n milfi... 97.54 105.97 Net (w lings per train mile 52.96 54.03 Passengers, ordinary 11,408,156 11,374.521 Season tickets 322,487 351.124 Grnds tonnage 5,373,136 5,238,457 Livo stock tonnage 369,832 373,281 Train' mileage 7,468,646 7,177,583 Locomotives 624 620 Passenger car.; ... 1,488 1,489 Wagons and brakevans 22,517 2? "o 5 "In view of the continued unsettled conditions prevailing: as the result of tha ! war, and-the, uncertainty as to when, /anything approaching normal circum. stances will again be restored, it would not be prudent to take' other than a conservative view in making a forecast of the railway revenue and expenditure for the year ending March 31, 1920," says tho Minister. "I anticipate, however, that tho revenue will*reach £5,000,000, and tho expenditure will amount to not less than £3,575,000. "It is unfortunate that' prevailing circumstances have precluded the vigorous scheme of improvements outlined in 1914. The inadequacy of the facilities providetl for meeting the requirements of railway business was strongly emphasised at.that date, and has been pointedly referred to on many occasions during the intervening years. The manner in which the business of the Dominion has extended during the war period is conclusive evidence that our industries will receive n great impetus after pjace is concluded n.nd normal conditions are fiilly restored. It is, therefore; imperatively that the «chente of improvements to which I have referred be nut in hand and pushed on vigorously to comnletion, so that the disabilities, inseparable from lack of proper facilities, may be minimised as soon as possible."