N.Z. RAILWAYS

Hokitika Guardian, 15 September 1932, Page 7

N.Z. RAILWAYS

-ENCOURAGING FIGURES SHOWN., (Per Press Association—, Copyright.) , . CHRISTCHURCH, September 12. Encouraging figures showing an improved position in the general financial position of th. e ' New Zealand Railway Department were quoted in an interview by the chairman of the Railways Board, Mr H. H. Sterling. Mr Sterling said he thought the public might find (some -satisfaction in the fact that there had been -an actual increase, in net revenue for the financial year ended Slst Ma-i'oh last.

This' yleat** hdtwitftstandiiig 'losses through .industrial disturbances, And particularly the coal strike, the board hiLH been ablis to iftci'Oage istllil lui'thfcr its net irovenuo, For the period tip to the end of July last, there had been .nn increase in not l'evenu© of £13,000 compared with the corresponding period of the previous year, and that ■had been in spite of the fact .that the continued effects of the depression had been still further to decrease the gross |ijavenue., The improvled net position had been brought about by a continued reduction in expenditure amounting to more than the drop in .revenue. The board had just received preliminary figures for the four-weekly period ended 20lh August, Air Sterling added. This showed an increase in net revenue of £48,904, making £62,104 for the year from Ist April to 2Gth August compared with the same period last year. This was in the fac 6 of a drop in revenue of £187.061, which was more than met by a decrease in expenditure amounting to £249.155. This rena’esented an average decrease in .expenditure of £l2 000 a week, for t'e part, of the financial yfiar now past