RAILWAY STATEMENT

Hokitika Guardian, 4 September 1930, Page 3

RAILWAY STATEMENT

% jjhe Hon,- W. A. Veitoli, Ministe. Railways made available on Tues day afternoon the Railway Statemen for the year.

grhe gross income from all source wa1^£8,288,11(3, an increase of £39, 078 on that of the previous yeai while the expenditure was £7,358,859, qvn increase of £509,470. The ne. earnings were £929,257, as compare*. with'v*£1,399,.655, .a decrease of £470, 398.

Oil.: the 31st March, 1930, the oapi .-stair, invested in the lines open fo. (traffic,, including the steamers am cplant on Lake Wakatipu and otlie subsidiary services, was £57,787,671 as’'(compared with £56,568,598 on th 31st March, 1929, an increase o ; £1,119,073 on the capital account o year. - the s%'oreaso in capital comprise £393,072, expended chiefly on rolling •"Stock mid signal-construction, am •charged against capital account un -'der, to open lines,” am £834:496 expended under the Rail ways-improvement Authorisation Act 1914;” on , work such as new work shops, etc,- . 4 sum of £699,177 was chargee 1 revenue for depreciation am prHvrmoti of renewals, and the anioun upended from this fund was £339, i‘635 for assets written off on renew nls effected during the year. The at ‘-OunTUlated cred it balance in this fun' atHh(e- : Jiht*'Marcili, 1930, was £1,687. As indicated in iny predecessor’ last report, a thorough investigate was being made into the whole of thtrain services, with particular refer tonbe.do the bancli lines. Since I as sumed control comprehensive report l>een submitted, and in view o the heavy annual 'losses I was reluct antly compelled to authorise the closing down of certain branch lines an' isolatgcL. seotions. pleasing to.note that, of tlr 476j'25T' C ;-'t i ons '[purchased during th* tons, or 74.59 per oen" of the ;tptal, comprised New Zealam coal. ;|||' H Tlhftthfpe' -locomotive'sof, ‘lthe Gar vattxl'y4e' j yvhifciv. werei niported ; frpr j’Britain'.jaire u6,av Aju: fefjr ' ivo|’hihfe s ;ha%" 'horiever yejj-i.pipvedi jSejrtrtii rheeii found;; neefes 'to fit thedm'gines to on conditions;,'’' Some progress; .lias h-ebi made with',.(tests aitd':imprpvenienl| On these locomotiyest’ is hope; that they will prove 'effective. Tlier t js .about .their tractive ef most of .|he -diffiOhlty havi-h' ■*ariseh- in oommc-tioii with their coal! '•■on.su Hint ion. This can only he fin «%lly adjusted by oxbarntive trials un der work mg conditions. No effbr will be spared to bring them to;:~; satisfactory state of efficiency.