RAILWAY REVENUE

Waikato Times, Volume 124, Issue 20727, 10 February 1939, Page 10

RAILWAY REVENUE

£200,000 FROM HIGHER RATES WEATHER AFFECTS EARNINGS (By Telegraph.—Press Association) WELLINGTON, Thursday The Minister of Railways, the Hon. D. G. Sullivan, stated to-day that he had every reason to anticipate that the budgetary estimate made at the beginning of the current financial year for the net earnings from the railways of £505,000 would be realised plus an additional £200,000 from the increased rates operative from December 11. Returns for the four -weeks ended January 7 showed net revenue at £55,180 or £32.215 less than for the corresponding period in 1938. These receipts, however, were adversely affected by advance bookings in the previous period anticipating the increased rates and the unfavourable holiday weather. Although the net revenue for 40 weeks ended January 7 fell short of the estimate of £78,836 by £25,911, the revenue for the three weeks subsequent to January 7 showed a total increase of £68,000 which, after allowing for the 10 per cent increase in rates, was much above the estimate and would assist substantially towards making up what was required to meet the budgetary position. Another favourable feature was that no debit similar to the £83,000 shown in the accounts for the March period last year for arrears of wages and salaries dup but not paid would appear in the March accounts this year, all the payments having been made at the increased rates.