The Press. Published Tuesdays, Thursdays and Saturdays. Thursday, July 14, 1908. THE RAILWAYS.

Waipukurau Press, Issue 283, 16 July 1908, Page 4

The Press. Published Tuesdays, Thursdays and Saturdays. Thursday, July 14, 1908. THE RAILWAYS.

The annual statement of the Railway Department, which was presented to Parliament on Tuesday shows that the total earnings in last financial year were £2,761,938 an increase on the previous year’s revenue of £137,338. The total expenditure was £1,949,759, an increase on that for the previous year of £137,277. The net profit on the year’s work was therefore £812,179, against £812,118 in 1906-7. The greatest increase conies under the heading of goods and live stock, £83,642, and the increase in the passenger revenue is £12,406. The net revenue is equal to 3.33 per cent, on the capital invested in fopen lines, and 3-()4 per cent, on the] total capital (£26,735,140) invested in opened and unopened lines. The Minister estimates the revenue for the coming year at £2,835,000 and the expenditure at £2,020,000. Though the returns for 1907, on account of the, traffic induced by the New Zealand Exhibition showed the large increase of 774,-

404 passengers over 1906, the number carried last year (9,756,716) was 155,930 in excess of 1907. The number of season tickets issued was 185,174, an increase of 19,670, and the holiday excursion tickets numbered 73'2, ~ lsb. The cattle carried showed an increase of 17,720 head, but sheep declined by 67,901, and the wool traffic fell off to the. extent of 7,568 tons. The report states that the increase in the cost of maintenance is largely due to the policy of betterment followed during the past few years, under which the pioneer main lines, which were originally designed and equipped for dealing with a small business by trains run at low speeds, have been gradually converted into standard lines, capable of meeting the requirements of the ever expanding traffic and the demands for fast passenger services between the more important centres.