THE MIDLAND RAILWAY.

Taranaki Daily News, Volume XXIII, Issue 119, 13 June 1901, Page 2

THE MIDLAND RAILWAY.

PBR P8133S ASSOCIATION. Wellington, June 12. At the Midknd Railway Commission to-day addresses of counsel were heard.

Mr Ball, summing up the evidence on behalf of the Cimwj l , said ilia grcas earnings during the Company's period ought to be reduced by further anntul sums which ought to hive been expended in maintenance, t»nd hi suggested th it the increase in earnings dming the last year but one of the Company's period might possibly bsj accounted for by the financial' cxigenci- s of the Coinp in y, which demanded extrine economy of ev»n n ce-s<ry expenditure. The normal earnings of th« railway, averaged oeer a period of eleven yearp, were considerably le?s than .£3,000 p -r annum. Dr. Findlay, for the Receiver and debenture holders, urged the Oommiss:on to give the debenture holders a berevole-it and fair con ideration of ih« evidet ce, and to give ih*m the advantage of »r.y ivasoaahle douM; where the evidence s em«d equal or uncertain; ind in particulr in determining the future prospects of railway to mak" evtry fair apsnmpt'on that (ould be rnado in fhj-ir fav ur, to tha 1 . af fir as con istfnt wi'h substintinl justice, tie Cjmmis ion shoull b} gene.ous r.th r th'in reßtr:nfiw\ Tne preFent p:si ion ■ f ihs railway was, he urgad, not due to anything for which tha Comp-ny or debenture hold.rs were responsible.