REVENUE INCREASES

Rotorua Morning Post, Volume 2, Issue 328, 15 September 1932, Page 6

REVENUE INCREASES

CHAIRMAN OF RAILWAY BOARD DEALS WITH FINANCES. LESS EXPENDITURE. Claiming that the public might find a great deal of satisfaction in what had been accomp'lished last year, the chairman of the Railways Board (Mr. H. H Sterling) has released figures sh owing the financial operations of the Railway Department from April 1 to August 20. The net revenue of the department increased in the fourweekly period ended August 20 by £48, 904,. making the total net revenue for the period April 1 to August 20, £62,104 greater than for the corresponding period of last year. There had been a drop in revenue over this latter period of £187,061, but this was more than met by a reduction in expenditure of £249,165, representing an average decrease for this portion of the year of over £12,000 a week. Commenting* on th'e figure^, Mr. Sterling said that he would recall that an actual increase in net revenue had been achieved for the year ended March 31 last, and during the present year, in spite of substantial losses in revenue through strikes, particulai*ly in the coal industry, the board had been able to increase still further its net revenue. Up to-the end of July there had been an increase in the net revenue of £13,000, as compared with the corresponding period of last year, notwithstanding the fact that the effects of the depression had continued to manifest themselves. The improvement in the net revenue had been brought about by a continued reduction in expenditure amounting to more than the drop in revenue.