THE RAILWAY REVENUE.

Globe, Volume XXII, Issue 2068, 9 October 1880, Page 3

THE RAILWAY REVENUE.

fßr Tkiegeaph.^ fFKOM OCB OWN COBBESPONDBNT.J WELLINGTON, October 8. The last four weekly return shows a considerable decrease in the number of both first and second class passengers who travelled on the Wellington, Wanganui, Napier, Nelson, and Amberley Kingston lines as compared with the corresponding period in On the Auckland, New Plymouth, and Pioton lines there is an increase in both classes. The latest returns prepared show that of 1191 miles of railway open at date no less than 120 miles, more than a tenth of the whole, are absolutely unremunerative, being worked at a loss of from 7 to 175 per cent, on current working expenses for the whole period of twenty weeks ; and unfortunately these lines have given worse results during the last four weekly periods, the ratio of working expenses to receipts having increas 'd lo 150 p a r cent, on the Lawrence and Eyreton branches, 140 on the Biverton and Otuutau branch, 215 p?r cent, on the Westport line, and not less tnan 975 per cant, on the Shag Point branch, without taking into account the interest of construe"tion. The Post” remaiks, in reference to these returns, that —“ It really would appear highly desirable to close meet of the Canterbury and Otago ‘ political ’ lines, which are being worked at so heavy a loss to the colony.” It also poiats out that, “ euppoeing the receipts and proportionate expenditure continued at the same rata to the end of the year, the railway revenue would amount to about £822 000 per annum, and deducting 67 per cent, for working expenses, there would be a net profit of some £272,000 to go towards the interest on tho cost. That would pay interest on about 51- millions, or about half the total cost of the railways ; in other words, the railways are now payi-ig just about 2£ por cent, on their cost over and above working expenses, a result which, in our opinion, is by no means unsatisfaciory or discouraging when all the circumstances are taken in consideration.” I may add, in reference to the above, that I am informed that the new rates, together with the reductions, are expected to bring tho railway revenue very cl sa to the estimate, or at anv rate to over £900,000.