The Chronicle PUBLISHED DAILY. LEVIN. THURSDAY, JULY 8, 1915.

Horowhenua Chronicle, 8 July 1915, Page 2

The Chronicle PUBLISHED DAILY. LEVIN. THURSDAY, JULY 8, 1915.

iNEW ZEALANID itAILWAYS. There is apparent in the latest returns published in connection with New Zealand Railways a satisfactory increase under nearly all headings. This is the more satisfactory in view of the diminutions recorded in parts of last

your. To earn the greater revenues recorded in the latest list there has been necessitated an increased expenditure of about 2-J per cent on a revenue of eight weeks, aggregating £468,4-13. The extra expenditure thus works out at about £12,000, and against this : s set an extra revenue of £41,000, so that the dominion is seen to be £'29,000 better off (on proper) than would have been the case on figures of parity for 1914. But it must be remembered that against the . extra profits spoken of there has to be eot down tlio losses by depreciation, besides the increased cost of earning the revenue, fliie latter, it is necessary to note, more than obliterates the total; it exceeds the amount by some £3000. Evidently the iron horse, like the Ueasfc of burden, is suffering from the "increased price of horsefeed," though the feed in tin's case is coal. o!T and labour—not the unduly inflated cereals bought by the drivers of horses. The abnormal (conditions of commerce ■brought about by the war have had deep and far-reaching influences, and the effects thereof .must be felt in a greater than ordinary tlegree by large enterprises such as the New Zealand State Railways. Before closing tin's brief reference to the railways, The Chronicle must express satisfaction in noting returns published in the latest Gazette are compared with an equal corresponding period of 1914, instead of with a lesser period, as was the case in the preceding set of figures noted by ue last month.