RAILWAY RETURNS

Hawke's Bay Herald-Tribune, Volume 81, Issue 27, 26 October 1937, Page 10

RAILWAY RETURNS

-Press Association.)

Both Revenue and Expenditure Increase MINISTER'S FIGURES

°(By Telegraph-

CHRISTCHURCH, Last Night. The railway revenue exceeds the jstimated amount by £58,000 (4.33 per cent.) for the period of 171 days ending September 18, according to a statement issued to-day by the Minister for Rail ways (Hon, D. G. Sullivan), The reeeipts for the period, totalling £3.802,000, are £392,000 in excess of the receipts for the corresponding period last year when adjustments aro made. becanse the figures for last year are for a shorter period of 165 days. At tho same time because of inereased expcnditure the net revenue on the same basis of comparison is only £184,000 compared with £353,000 last year, a de-c-rease of £169,000. The figures for tkc period of *171 days this year compared witk the period of 165 days last year are: — Revenue; This year, £3,802,000; last year, £3,298,000; variation, £504,000. Expenditure: This year, £3,618,000; last year, £2,942,000; increase, £676,000. Net revenue: This year, £184,000; last year, £136,000; decrease, £172,000. Increase in expenditure, 15.28 per, cent.; decrease in net revenue," 22.97 per cent. When the adjustment for differences in the length of the periods is made by adding six twenty-eighths of the October period to last year's figures tho position is stated as follows: — Revenue: Last year, £3,410,000; this year, £3,802,000; increase, £392,000. Expenditure: Last year, £3,518,000; this year, £3,618,000; increase, £561,000. Net Tevenue: Last year, £353,000; this year, £184,000; decrease, £169,000. Increase in expenditure, 11.50 per cent.; decrease in net revenue, 18.35 per cent. The following is given as a comparison between the actual position .for this year's period and the estimated position: — Revenue: This year, £3,802,000; last year, £3,644,000; increase, £158,000. Expenditure; This year, £3,618,000; increase, £100,000. Net revenue: -This year, £184,000; last year, £126,000; increase, £580,000. Increase in expenditure, 4.33 per cent.; increase in net Tevenue, 2.78 per cent. The statement explains the increase in, expenditure, after allowing for an increase of £115,000 because of the longer period, as follows: Increase of £66,000 becanse of the xestoration of salaries and wages to the 1931 level dated from July 1, 1936, and was therefore paid for 171 days this year as compared with 74 days last year; an increase of £206,000 because of the operation of the 40-hour wcek from September 1 last year so that it was in operation for the wkole of the 171 days this year as against 12 days last year; an increase of £289,000 through the cost of handling additional business and increase in the cost of materials,