THOUGHTS FOR THE TIMES.
THE RAILWAYS PROBLEM. The chief interest in the Railways Statement lies in the report of the General Manager, and we are sure that, there has never been a managerial report at once so full, so illuminating and so readable as Mr Sterling’s. Ho handles a dull Subject brightly, even with a touch of wit. The whole statement reveals a state of affairs only too well known. Financially the railways are going hack. The deficit, after the subsidy had been paid, was £432,000 last year, against £291,000 the year before, and without the subsidy it was £931,000. The percentage of net earnings to capital invested has steadily declined from 4.35 in 1925-26 to 3.45 in 1 929-30. The Minister attributes the increase in the loss principally to the taking over of new lines during the year, but what prospect is there of these new lines showing a profit in the future? —Auckland Star*
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Hokitika Guardian, 8 October 1929, Page 4
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156THOUGHTS FOR THE TIMES. Hokitika Guardian, 8 October 1929, Page 4
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