Railways Finance.

Horowhenua Chronicle, 25 September 1913, Page 3

Railways Finance.

—4 The .Railways Statement was tabled by the Minister for J{ailways (Hon. W. H. Hemes) in the House of .Representatives yesterday. It shows that the net earnings amounted to £446 per mile for the average number of miles open, and gave a return of 4.04 per cent, on the capital cost. This return is the highest but one ever earned by our railways. Last year it was -J. 98 per cent. The net profit on working • » £1,265,393, as against £1,210,613 in 1912. Estimated reven'ue for the year ending March, 1914: £4,200,1)1)0, and expenditure at £2,931,250. The percentage of working* expenses to earnings is 68.15, .is against 67.07 the previous year. The actual earnings ITave exceeded the estimate by £226,002, and the earnings of the preceding year by £294,493. Passenger revenue shows an iucrease of £128,514: season tickets £14,244; coaching traffic, £1.1.,875; goods and live stock, £.1.24,902; miscellaneous rents and commissions, £14,958. Instructions have been given by the Minister for the designing of automatic signals for use, on railway crossings. The earnings per train mile in the North Island decline"d from 8s 4d to 8s Hd. ; . ; those of the South Island increased from 8s !)£d to 9s 2|d. Arrangements are being made to vest the control of the Hutt Road to tlie Wellington City Council. Opportunity is to be afforded men in the Second Division to qualify for promotion to the Eirst Division.