RAILWAY RETURNS.

Globe, Volume XXIV, Issue 2695, 27 November 1882, Page 3

RAILWAY RETURNS.

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[FEOM THE “ PRESS.”] Wellington, November 24.

The railway returns for the first twentyeight weeks of the current financial year have just been made up, and regret to say are still unsatisfactory. It is true that the gross receipts, .£491,000, exceed those of corresponding period last year by £35,000, but unfortunately the working expenses exhibit a much larger proportionate increase, being no less than .£43,100 above the preceding year, or in the ratio of 65 per cent, to the gross receipts instead of 59. This serious and rapid increase in the cost of the working is regarded with considerable apprehension, specially in view of the large reduction of rates shortly to come into force. At present the total net profit is £171,000 as against £184,000 for the first twenty-eight weeks of last year, and this notwithstanding the fact that fifty-three more miles of railway are open. All the lines show a substantial increase in actual traffic, both passenger and goods, and mostly in every class, with one curious exception —Taranaki showing a decrease of about 80 per cent, in first-class passengers and an increase of more than 100 per cent in second-class. I find that Auckland shows an improvement in receipts to the extent of £95 per mile per annum, which is secured at the additional cost of only £23 per mile, or under 2 per cent. Auckland has at last overtaken and passed Wellington in mileage receipts, and now stands next to the Hurunui-Bluff among the main lines. Wellington shows an increase of £72 per mile receipts, and a decrease of 2 per cent, in expenditure. Taranaki gives smaller but similar results. Napier, Wanganui and Picton display a slight increase of receipts, but largely augmented expenses. Nelson exhibits a decrease in both receipts and expenditure. The HurunuiBluff has a larger revenue by £7 per mile than in the corresponding period last year, but, unfortunately, the working expendi* ture is no less than £sl per mile higher than in 1880. The Grey and Buller mineral lines have done even better than ever.