THE RAILWAY SERVICE.

Taranaki Daily News, 10 May 1918, Page 7

THE RAILWAY SERVICE.

LAST VEAG/Ji RETURNS. By Telegraph.—Press Association. Wellington, May 9. The Minister of Railways reports another successful year. The gross revenue for twelve months ending March 31, 191S, was £4,087,700, against a gross revenue of £4,800,810 for the year ending March 31, 1917, but it is £'187,700 above the estimate. The expenditure was £3,042.000, against £2,920,864 for 1017, or £99,400 in excess of tho estibates. The increased expenditure is largely due to the Avar bonus to employees, which was charged to separate account in the Consolidated Fund. The net revenue for the year was £1,044,794, against £1,573,2v50 for the previous year, and £1,250.500 estimated net revenue. This was sufficient to give an approximate return of £4 12s per cent, on the capital invested in working railways. MR. HILEY'S TEEM OF OFFICE. Wellington, May 9. The term of office of Mr. Hiley, General Manager of Railways, expires on August 8. Mr. Hiley desires to return to the Old Country at the conclusion of his term, hut. in order to avoid a break .in the management in the absence of the Prime Minister and Finance Minister, and in order not to have a ohange of management during the session of Parliament, it hias Ticen arranged bv title Minister that Mr. Hiley shall continue in office till the end of the financial vear. The question of a successor will he discussed on the return of the Prime Minister and Minister of Finance.