RAILWAY REVENUE

Wairarapa Times-Age, 22 April 1938, Page 3

RAILWAY REVENUE

A MIS-STATEMENT CORRECTED. A short news article in the “TimesAge” of April 8, relative to railway revenue and expenditure for the period April 1, 1937, to March 5, 1938, made it appear that there was a decrease in gross revenue of £937,310. The figures quoted in this paper showed that the revenue for the period under review amounted to the big total of £7,899,756 as compared with £6,062,446 for the corresponding period of the previous year. There was a typographical error in the latter group of figures which should have read as £6,962,446. Instead of being a decrease, as the “Times-Age” inadvertently stated, the revenue for this year (approximately 48 weeks) was, therefore, a very substantial increase of £937,310 over the period covered by the previous year's figures. The increase in expenditure (£1,101,879) was, of course, largely due to three factors—the operation of the 40-hour week for the whole of this year's period as against six months of the previous year, higher rates of pay, and the larger number of men employed in the earning of the increased revenue. Yet, despite the big increase in expenditure of over a million pounds, the net revenue showed a decline of only £164,569.