RAILWAY ACCOUNTS

Dominion, Volume 15, Issue 23, 21 October 1921, Page 4

RAILWAY ACCOUNTS

STILL AN ADVERSE BALANCE WHOLE LOSS ON SOUTHERN LINES The railway working account showing revenue, and expenditure for the period April 1 to September 17, is published in the Gazette. The revenue totalled .83,031,605, as compared with =£2,901.217 in the corresponding period of last year, an increase of =8129,788, equal to slightly more than 4 per cent. The detailed

Grand totals =£3.034,005 .£2,904,217 The expenditure for the period totalled .£3,088,276, as compared with 682,442,195, an increase of .8646.081, or slightly more than 25 per cent. The detailed comparison is as under: — North Island —

The returns cover practically six months of the financial year, and the results may be summarised as under:—

Thus a profit of .£462,022 is this year converted into a deficit of .£54,2/1. the railways are not paying working expenses, and the Consolidated Fund has had to meet the half-year’s deficit, also the half-year’s interest on cost of construction. The loss is entirely on the South Island lines. The following table discloses where the losses have been made: — Expen-

The cost of construction of opened lines was 2837,235,254. and of unopened lines 684,192,242, or a total of A half-year’s interest on the latter amount calculated at 4 ; per cent, per annum amounts to 68828,756.

figures are as under:— . North Island — 1921. £ 1920. • £ Whangarei . 31,373 29,350 3,069 Kai hit 4,103 Gisborne 20,822 18,226 Main "Lines .. 1,748,616 1,648,467 .£1,804,944 .£1,699,112 South Island— Main Lincs Westland .. .. 1,013,371 93,314 1,034,813 81,935 "Westport 47.792 Nelson 13,193 17,911 Pie.tnn 20.179 19,436 Lake Wakatipu steamers 2.849 3,220 4:1,229,061 411,205,105

Whangarei Kaihua Gisborne Main Lines 37,958 5,243 20,534 .. 1,058,750 £1,722,485 30,084 4,978 16,717 1,289,003 £1,340,782 South Island — Main Lines .. 1,193,4.10 940,234 Westland v. Westport 83,981 75,424 43,328 40,310 Nelson .. 17,992 21,629 22,421 Picton 18,541 Lake Wakatipn steamers 5,421 4,485 £1,365,791 £1,101,413 Grand totals £3,088,276 £2,442,195

Revenue Expenditure £ ... .£3,034,005 .... 3,088,276 .... <£54,271 In the corresponding period of last year the position was: — £ Revenue .... 2,904,217 Expenditure .... 2,442,19o Profit .... J! 162,022

'Revenue, diture. North Island— 31 37:1 X 37,958 WhangaiGi 4403 5,243 juimu ............ 20,822 20,534 Main Lines .. 1,748,640 1.658,756 XI,804,94-1 XI,722, 485 South Island— Main Lines .. 1,043,371 413,314 1,193,440 83 t 981 Westport 56,155 43,328 Nelson 13,193 17,992 20.179 21,629 Lake Wakatipu. steam- ■ 2.849 5,421 XI .229,061 XI ,365,791 Grand totals . X3,034,005 X3,088,276