The Victorian Railways.
[PER PRESS ASSOCIATION |. Melbourne, May 31. Mr Pangborn, President of the American Transportation Coinmipsion, interviewed, said the Victorian railways had a load of debt on railways, especially those in a new country, could stand. There had been such extravagance in the provision of plant and equipments it was impossible they could pay, and the quicker this was realised the better. There was no possibility of the deficit decreasing tinder the present system. In comparison with the American railways the cost showed an excess of 50 per cent, The Railway Commissioners' estimate of the revenue for the ensuing year is £2,600,000. The proportion of the working expenses to the revenue will be reduced from 59 to 55 per cent, and the revenue will show a profit on the actual work of over a million. The deficit caused by the interest on the capital will be over £4QQ,QOQ.
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Bibliographic details
Feilding Star, Volume XVI, Issue 281, 1 June 1895, Page 2
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149The Victorian Railways. Feilding Star, Volume XVI, Issue 281, 1 June 1895, Page 2
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