OUR LITTLE RAILWAY.

Gisborne Times, Volume VIII, Issue 525, 23 September 1902, Page 2

OUR LITTLE RAILWAY.

(To the Editor of the Times )

Sir, —Why should there be such an obvious attempt to mislead the publie with respect to the railway ? Y'ou publish | figures which would make it appear that jup to the 2Gth August there was an excess j of receipts over expenditure of £42 Is sd. ] I submit that the following would, in rouud numbers, be a more correct account: Receipts, £284; expenditure, working expenses, £242; interest on £50,000 for two months at three percent, £250 ; maintainence and allowance for depreciation of plant on tho same amount at 2 per cent, £167. Total, £659. Loss on two months working, £375. Nobody probably expected that the line would pay, but it must bo borne in mind that this loss must be made good in some way, although it does not come directly out of our pockets. At its present rate of progress the line will reach the Karaka in about six years from its commencement, and by that time it will {have accumulated such a load in debt that every possibibity of profitable working will have disappeared. There seems to be several curious aspects of the railway accounts, for instance, last year's \ote was £15,000, and the expenditure was £27,000. If this overspent £12,000 is to be deducted trom this year's vote of £20.000 there will be just about enough to build the Waipaoa bridge, but nothing left for any extension of the line towards Te Karaka.

There is an uneasy suspicion that the £7OOO of last year’s cancelled road votes Las been used'’ for railway purposes, if this is the case country settlers will have still neater reason to curse the rapacious uiaw ot the local white’ elephant. Traveller.