RAILWAY LOSSES
(By Telegraph—Per Press Association.) WELLINGTON, April US. Though the number of passengers carried in Wellington railway district for the year ended 31st March last sliodws an increase, the revenue dcrivshows a decrease compared with the preceding year. Ordinary passengers increased by 337,873, season tickets by 20,221), and aid-hearer tickets by 2,373; yet the revenue from passengers showed a decrease of £O,OBI on the previous year. This is admitted to be the result of the motor competition, which has taken away many of the shorter ‘distance passengers.
The parcels traffic shows little alteration, but there is a decrease in freights as a whole. The total revenue from all sources was £1,311.2-17, compared with £1,327 381) for the previous year, a decrease of £13133.
The statement of the Railway finances for the four weeks ended Ala roll 3 disclose an excess of receipts of £lsl. 430 which is £32,392 less than in the corresponding period of the previous year. For Hie 48 weeks of the financial year, the working profits were £1,105,824, against £1,332.435 in 192627 and £1,429,130 in 1925-26. The gross receipts during the four weeks covered by the latest return were £683,915 and the expenses £532.485 The former shows a reduction ol £12,409, while the latter had increased by £19,983. Operating revenue from the North Island railways, £374,552. has declined by £12,237, and working expenses £283,799, are £B7OO higher. The working profit is therefore £20.943 lower. Revenue from the South Island railways has fallen by £9,422 to £259,780 while expenses have increased by £G,GBS.- The net revenue lias declined by £ IG, 107. Micellaneous however shows ait increase of £4,058. The reduction of £220.021 for the 48 weeks comprices £154,337 in net operating revenue of North Island railways equipment to 17.5 per cent, of last years return and £70,959 (30.4 per cent) in operating revenue of the South Island railways. Miscellaneous net revenue is only £1325 below last year’s total.
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Hokitika Guardian, 18 April 1928, Page 4
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321RAILWAY LOSSES Hokitika Guardian, 18 April 1928, Page 4
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