THE RAILWAYS.

Manawatu Herald, Volume XXXI, Issue 501, 30 October 1909, Page 4

THE RAILWAYS.

LAST YEAR’S RETURNS

\VHi .UNfVTON , Weelnesday

The annual railways statement was presented to the House of Re piesentatives to day.

This is the first statement presented by the present Minister, hut, as it does not deal with any matters subs qnent to March 31st last, it has very little hearing upon any changes of policy introduced by Mr Millar, who took office in January last. The earnings for the 12 months ended March last lota led ,£2,929, 526, as against ,£2,761,93s for the previous year. The expenditure totalled ,£2,114,815, as compared with ,£1,949,759 for the preceding year. The net profit on the year’s working was £815,711, as compared with £812,179 for 1907 08. The net revenue is equal to a return of 3. 13 pet cent on the capi lal invested in the open lines and 2,50 per cent on the total capital (£29,052,432) invested in open and unopened lines.

The total train miles run during the y,ar was 7,458,236, an increase of 406,962 miles over the preceding year.

The capital cost of lines opened ;or traffic increased from £24,365,*47 10 .£ 2 7.7^-i59 2 -

For the first time in lire history of lie railways of the Dominion, (ii I nary pas icngers totalled over lei 1 ill illions.

The average number of men

employed dining the year was i 2,505, as against 12,338 for the previous yt ar. Machinery of impri veil type and g:eater capacity lias been added to the workshop equipment during the year, at a cost of ,£10,056. One hundred and twenty tluee miles ol lines weie relaid during the year. The cost oi manlenance increas d from £,638,560 to £656,154. In this connection, the Minister says that the increased cost of maintenance is a natural coiollary of the demand ciealed by the expanding traffic for engines of greater power, cars and waggons of increased carrying capacity, and further train services. “I confidently anticipate, ” he adds, “that, as a result of the expenditure inenired in connection with betterments during the past few years, a diminution of rnain'e-n-uce expenditure is now within measureah’e distance. Duplication woiks weie lesponsible for the following items —We.linglonHult £53,823, new Halt road £12,428, Auckland-Penrose £31,005, Addington-RoPeston £37,510, Dnneiiin-Mosgiel £73 019. The peicinlage of working expenses to earnings during the p isl year was 72.19, as against 70.59 for the previous year. The Minister says:—“Although favourable circumstances of a non lecnrr'.ug character existed dining the Hst financial year, ami iheie has been a sligln depression during the li:st portion of JJthe year just entered upon, I feel confident, from present indications, that a return to prosperity is assnied, and am of opinion that lire railways will again show sali factory 1 esuUs. I therefore estimate the revenue for the year en ling March 31st, 1910, at £3,050,000 and the expenditure at £2,143,500.”