THE RAILWAY STATEMENT.

King Country Chronicle, Volume VI, Issue 496, 31 August 1912, Page 5

THE RAILWAY STATEMENT.

THE YEAR'S WORKING.

The Railways Statement was delivered by the Minister for Railways, Hon. W. H. Herries, in the House of Representatives on Tuesday. It shows that the nett earnings gave a return of 3.98 per cent, on the capital cost, compared with 4.06 per cent, for the year 1910-11. The earnings exceeded those of the previous year by £182,327, and are the highest yet obtained in the history of the railways. The results are summarised as follows: Total earnings: 1911-12 £3,676,509 ; 1910-11, £3,494,182. Total expenditure: 1911-12, £2,465,896; 1910-11, £2,303,272. Nett profits on working 1911-12, £1,210,613; 1910-11.: £1,190,910. The mileage of line open for traffic on March 31st, 1912, was 2808 miles an increase of 47 miles, and the capital cost of lines open for traffic, including the Lake Wakatipu service, has increased by £899,543 to £30,506,089. The nett revenue is equal to a return of .98 per cent, on the capital invested on the open lines, and 3.70 per cent, on the capital invested in ooen and unopened lines (£32,689,179). The passengers carried during the year numbered 11,891,134, an increase of 690,521 over the previous year. Other increases are shown under the following headings—Season tickets, 236,957, increase 14,853; workers' weekly tickets on suburban lines, 129,524—-7800; workers' twelve trip tickets, 449,076—268; holiday excurison fares 840,473 passengers—--157,014. There were increases under all headings of coaching traffic, parcels 72,546, horses 373, carriages 50, dogs 334; and in goods traffic, firewood 1036 tons, timber 1306, tons, merchandise 2723 to minerals 21,533. The following classes show decreases: —Cattle and calves. 3302 head sheep 456,848, pigs 13,111, chaff lime, etc., 6752 tons, wool 1640 tons, and grain 63743 tons. The increase in the expenditure is attributed to the extra train mileage, additional staff advancses in salaries and wages, and in the prices the department has to pay for fuel and materials. Duringthe year the rolling stock was increased by 14 locomotives, 46 carriages, 8 bogie brake vans and 477 trucks. The building programme for 1912-13, including stock under construction at March 31st, comprises 64 locomotives, 120 carriages 10 brake vans, 85 bogie waggons, and 1937 four-wheeled waggons.