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Hokitika Guardian, 15 February 1924, Page 2

Tin; revival in our trade is, ol course reflected in the railway returns. These, remarks the New Zealand, •■limes.” in consequence, make pleasant reading, ft is not only that there is improvement ; but in the improvement tliero ii justification lor the continuance id the railway development policy, regarded throughout the Dominion, as vitally necessary lor the rapid lreeiug, ,*:’ the country from the great burden ef its debt. If the railways pay the capital charges incidental to their eonstl'iieiiim, thev give us the advantages of railway traffic for nothing, with a prospect of meeting all iinaneial obligations without troubling the taxpayer. When the capita! can be bad tor an interest charge of one and a ball |er cent., and that at face value, this profitable working of the railway system bulks mui li greater as an asset in the financial position. The figures tell their story convincingly. '1 be revenue total ~!' t«-e first tbree-quai tors of the financial year reached £5.105,00(1 while toe expenditure total was £1.003.000 tin* credit balance being £1,012.0C0. Taking the working railways as having expended a capital of forty millions, the profit percentage of revenue over exptnditiire. ineludit'g capital charges, works out to 2.53 per cent, ol the capital expended. Jf we assume that the fourth quarter's figures will make an equally good showing, we get for the whole year a return of 3.42 per cent, on tin* capital invested. This, so soon attei the turn for the better in our affairs, i.s very satisfactory indeed. But there are iwo factors to eonsidei lielore arriving at a final estimate for the vein. The first is that the business Is on the up-grade, and the second is the luct that the fourth quarter's result. are the best every year, in the ordinary course of things. On the whole, then, we may regard with some certainty the prospect that at the end ef the current, financial year the railways will have met the capital obligation of three and three-quarters per cent., as laid down some yeat.s ago by l tie management, without troubling the taxpayer for a penny.

Tut: report of the County visit south gives rather a doleful account of the state of the bridges on the Ross road. I nfortiinately the report hut confirms previous comment on the matter. It is not very fair to the local body that a public Department should hand over tli ? bridges in the state of disrepair they are obviously in, without providing a substantial sum towards their restoration. The matter is now to he pushed to a head by a County deputation to the Minister of Public Works, and it is to ik* hoped Mr Coates’ sense of fair play will see that justice is done alike to tile local body, and the public using the road. Tin* Ross road is ail essential link for the hulk of the traffic into South Westland, and if seriously interrupted, the progress of the south will he affected. Roads play a prime part it. the development of any country and it is highly important that arterial roads lie kept in safe and sound order tar traffic. It is pleasing to note in this connection that Kakapotahi bridge is to he restored as soon as possible. Tlij.s bridge has proved a great boon since it.s erection, and it should he reerected as soon as possible, ft has been destroyed by an abnormal flood, hut locn* requirements are such that it should he replaced without delay by a .structure as useful as the one lately destroyed.