RAILWAY REVENUE

Manawatu Herald, Volume XLVI, Issue 2729, 6 May 1924, Page 3

RAILWAY REVENUE

INCREASED BY £250,000.

3i) PER CENT. PROFIT EXCEEDED. Wellington, Last Night. The Hon. J. G. Coates, Minister of Railways, communicated the following information to the Press in regard to the railway accounts foi the year ending March 31, 1924; “Notwithstanding the fact that severe. floods and other interruptions of traffic occurred in the early part of the year, the revenue lias not only been well maintained, but lias shown an increase of £250.409 over the revenue for the proceeding year while during the same period, tlie expenditure has bean reduced by the sum of £08731. The net return of revenue over expenditure for the year ending March 31st, 1924, amotiiils to £1,580,445, as against the sum of £1,225,305 for the previous year. The percentage of profit to capital invested is approximately 3.82 per cent, as against 3.04 for the previous year. “The rate of interest which the Government expects the railways to return is 3$ per cent. Tt will be seen therefore, that the rate earned bv the Department is slightly in excess of that rate. Passengers show a'decrease of 420,000, but goods tonnage Shows an increase of 300.000 tons, while the train mileage has increased to the extent of 670,000 train miles.”