RAILWAY REVENUE

Evening Post, Volume CXVI, Issue 102, 27 October 1933, Page 5

RAILWAY REVENUE

YEAK IX REVIEW,

NET RETURN INCREASE

LESS EXPENDITURE

An increase in the- net railways revenue of £12,551 for the year- ended Jlarch 31, 1933, is disclosed in tho royort of tho Government Railways Board presented to Parliament today. "The Tcvenuo for the year was £6 034,403, as compared with £6,508,948 in the previous year, a decrease of £474,545. On tho other hand, however, the expenditure was reduced to £5,183,859, as compared witn £5,670,955 for the previous year, a decrease of £487,096," the report states. <<Tho satisfactory result on tho expenditure side was achieved by tho statutory reductions in salaries ana wages and by a systematic and caretul pursuit of every practical means of economy." . . . . , (For the current year it is anticipated that the revenue will reach £5,878,U0U and the expenditure £5,157,938.) "The net revenue for the year was £850,544, as compared with £837,993 for tho previous year, an increase of £12.551. The net revenuo has increased progressively over the last two years to an aggregate extent or. £161,817, equal to 23.50 per cent. ''The improvement in the net results achieved over tho last two years has been secured chiefly by the reductions which have been obtained in tho expenditure. There is a definite limit # to which this process can go, and haying regard to what has been already done in this direction it will bo recognised that further reductions in expenditure will be progressively difficult to obtain. The board will continuo the policy or. keeping costs down to the lowest figure compatible with a reasonable standard of service to tho public and with due regard to the legitimate interests ol its large staff."

iJiiiJViJjo. The following is a statement of the results of working for tho past two years:— - Particulars. 1833. 1932. Total miles open for • traffic ->.31j ■>'310 Average miles open for q-t- "315 CS^KS £59.228.894 £59.055,701 Capital cost of open.^^ £5M24>883 "$%X?.^ £15,530 £15.613 Gross earnings .... £6,034.403 £6,508,948 Working expenses .. £5.183,859 •££6<0,9o;> Net earnings .... £S50,j>44 £88i.9fl3 Interest charges .... £2,230,653 £2,221,46;) Percentage of total working expenses to gross earnings .. Jsj.JI si.is Percentage of net, v earnings to capital . , .invested. 1-Gu , 1-01 Railway operating earnings ■ £5,339,075 £5,78S,96j Railway operating f , wr -, expenses £4,83j,ij4 £.j,3Ol,(jji Net railway operating „„,,,, earnings £505,321 £48i,312 rercentage of railway • operating expenses _ - to earnings 90M 91.58 Operating earnings, per average mile opeii £1,610 S1.T46 Operating expenses per • average milo . open fil.-loS £1,509 Net .operating earnings per average mile ' ■ open ; ■■■ • £132 ' £147 el. (1. . Operating earnings per train mile •.-.:... 130.37 ■ . 136.63 Operating expenses per train mile ...... , 118.03 125.13 >'cst operating earnings per train mile .... ' 12.P.I ll_.5O Passengers, ordinary ■ 0,870,570 C,jO3,j6C Season ticket* .... 437,775 4oO,063 Total passenger journeys' " 18,366,651 19,151,480 Co'pcla tdniiage 4,945,5(12 > 5,272,253 Ll.Ve stock tonnage ,., 545,094 . 552,558 Train milage ■....'.. 9,828,853 10,168,720 Engine milage •< ,... ■ 13,265,878 13,S15,066