LOSS IN REVENUE

Hokitika Guardian, 25 August 1932, Page 5

LOSS IN REVENUE

N.Z. RAILWAYS

DECREASE IN EXPENDITURE.

(Per Press Association — Copyright.)

AUCKLAND, August J».

The railway expenditure during the current financial year is continuing to decrease at a rate of,. approximately. £II,OOO per week, according to a survey of tiie Department’s financial position to date, made by Mr H, H. Sterling, the Chairman of the Railways Board, who is visiting Auckland. Th figures covering the working up to July 23rd,. are held by the Chairman to afford: much room for satisfaction. Mr Stealing said, that, according to the returns, the revenue of the railways had, unfortunately, continued to .decrease. The amount of the decrease for the current year, up ito duly 23rd, ais compared with the corresponding period in "the previous year, is £176,860. He isiaid the Board Iliad, however, been" successful in obtaining a reduction in expenditure over the same period of no less than £190,287, so that the net revenue showed an increase of £1.3,427. Having regard to the difficult revenue position, that result would', Mr Sterling believed, he regarded by the public with feelings of general satisfaction, - •

AUSTRALIAN- RAILWAYS LOSS.

-SYDNEY, August 24

IThe "Herald” says: It is learned from official sources that the railway deficit for ‘the year ended June 30 last, will be about four and a-half million pounds. iSouth Australian railways showed a profit of £612,337 on the actual! working operations for the year, but a deficit of £910,636 when interest charges are taken into account.