NEW ZEALAND RAILWAYS

Hauraki Plains Gazette, Volume XXXVII, Issue 4998, 9 July 1926, Page 3

NEW ZEALAND RAILWAYS

COST TOTALS £47,608,676. in NEW LINES. Fifty-three miles of extensions to the New Zealand railways were transferred from the Public Works to the Railways Department during the year ended March 31. This* number' comprised 30 miles ,in the North Island and 23 miles in the South Island, making a total of 1778. There are now 31-38 miles under the control of the Railways Department.

The * expenditure op “open” lines, according to’ the official statement published in the Gazette, is now £47,608,676, an increase during the year of £3,037,930. The remaining ex-penditure-on unopened works is £6,107,779. As this is a reduction of £154,975 on the corresponding figure in tlie previous year, the actual expenditure during the year on new railways must have been £2,882,955As the department is now charged interest on its capital expenditure at 4% per cent, the working profit (including the subsidy on branch lines) for the current year will have to be £1,963,859, the addition to capital cost representing an increase of £125,315.

The total expenditure on railways, £53,716,455, represents an increase during the last 10 year of £l6 381,375, olf which £10,273,596 has been in res'pect of works- added to “open” lines, the extent of which has been increased in the decade by 178 miles.