RAILWAY RETURNS

Sun (Auckland), Volume 1, Issue 15, 8 April 1927, Page 2

RAILWAY RETURNS

PERIOD OF 48 WEEKS CONTRACTION OF £96,094 (Frbm Our Own. Corvesponde>it.) WELLINGTON, Thursday. A working profit of £183,823, against £220,155 is disclosed by the Railway Department’s accounts for the four weeks ended on March 5. Accounts prepared for 48 weeks of the financial year—actually 329 days—show that the • total amount earned toward the payment of interest and other charges is £1,332,436. For the same period of last year (333 days) the net earnings were £1,429,130, so that there has been a falling-off of £96,694. According to the last Budget the contribution due by the department'in respect of interest on the railways capital liability for the year is £2,050,000. The receipts during the last month total £386,789 from the North Island railways, £269,202 from the South Island railways, and £40,333 from miscellaneous services. The total of £696,324 shows a decrease of £52.153 compared with the corresponding period of the previous year. Expenditure was £275,093 on the North Island railways, £209,870 in the South Island, and £27,538 on account of miscellaneous services. The total of £512,501 is low'er by £15,826 than for the February period of 1926. Net operating revenue in the North Island for the 48 weeks has contracted to the extent of £164,531, while that from the South Island railways has increased by £46,195. Net receipts from miscellaneous services have also increased by £21,642.