SUMMARY SHOWING THE POSITION OF LINES UNDER CONSTRUCTION, WITH ESTIMATES OF ANNUAL REVENUE, EXPENDITURE, OPERATING LOSS, INTEREST CHARGES, AND TOTAL LOSS THEREON.

Appendix to the Journals of the House of Representatives, 1930 Session I, D-03

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1930. NEW ZEALAND.

SUMMARY SHOWING THE POSITION OF LINES UNDER CONSTRUCTION, WITH ESTIMATES OF ANNUAL REVENUE, EXPENDITURE, OPERATING LOSS, INTEREST CHARGES, AND TOTAL LOSS THEREON.

Laid on the Table by leave, and ordered to be printed.

ESTIMATED ANNUAL REVENUE AND EXPENDITURE, LINES UNDER CONSTRUCTION. Summary.

Comparison between Lines under Construction and Lines Open for Traffic. New Lines. Open Lines. Average cost per mile (exclusive of £ £ rolling-stock) .. .. .. 39,840 14,109 Interest charges per mile .. .. 1,992 610 Operating earnings per mile . . . . 790 2,274 Operating expenses per mile . . . . 936 2,083 Net operating earnings per mile .. 146f 191 Net loss per mile .. .. .. 2,138 419 t Loss. North Auckland Main Trunk Railway. Okaihau-Rangiahua Extension (14 miles 9 chains.) £ Estimated capital cost .. . . . . . . 680,000 Total per mile .. .. .. .. 48,184 Expenditure to 30th June, 1930 .. .. .. 576,869 Per Annum. £ Estimated additional revenue . . . . . . 7,000 Estimated additional expenditure . . . . . . 8,000 Estimated operating loss . . . . . . . . ] , 000 Interest charges at 5 per cent. .. .. .. 34,000 Estimated total loss . . .. . . .. 35,000

Railway. Miles. ! Revenue. Expenditure, j Chsu-ges Total Loss. £ £ £ £ £ Okaihau-Rangiahua .. 15 7,000 8,000 1,000 34,000 35,000 Kirikopuni-Dargaville .. 18 9,000 10,170 1,170 25,500 26,670 Gisborne-Eskdale.. .. 121 60,876 100,459 39,583 243,550 283,133 Okahukura-Tahora .. 42 .. 39,700 39,700 112,950 152,650 South Island Main Trunk .. 76 112,300 77,140 35,160* 135,160 100,000 Westport-Inangahua .. 26 43,000 36,000 7,000* 43,850 36,850 Kawatiri-Inangahua .. 47 38,200 48,800 10,600 92,650 103,250 345 270,376 320,269 49,893 687,660 737,553 * Profit.

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This line is an extension of the line from Otiria to Okaihau (24 miles 42 chains). It is constructed through the most treacherous piece of country on which railway construction has been undertaken in New Zealand. The major earthworks are nearing completion, and it is thought that the worst slip movements have been overcome. Rails have been laid for 10 miles. The line may be expected to give operating results very similar to the Otiria-Okaihau Section. Dargaville Branch. Final section, Kirikopuni-Dargaville (17 miles 40 chains). £ Estimated capital cost .. .. .. .. 510,000 Total per mile .. .. .. .. 29,143 Expenditure to 30th June, 1930 .. .. .. 377,408 Per Annum. £ Estimated additional revenue .. .. .. 9,000 Estimated additional expenditure .. .. .. 10,170 Estimated loss on operation .. .. .. 1,170 Interest at 5 per cent. .. .. . . .. 25,500 Estimated total loss .. .. . . .. 26,670 This is the uncompleted portion of the Waiotira-Dargaville line, the estimated annual loss on which is £87,000, and will be the connecting-link between the Kaihu Section and the North Island main lines. The Tangowahine Section (Imiles) is practically complete, and goods traffic is being conveyed over it. On the Dargaville Section (7j miles), formation is complete for 5| miles and platelaying for 2 miles. Four bridges have yet to be built.

Napier-Gisborne Railway. Eskdale-Gisborne (120 miles 39 chains).

Per Annum. £ Estimated revenue .. .. .. .. 60,876 Estimated expenditure .. .. .. .. 100,459 Estimated operating loss . . . . . . .. 39,583 Interest at 5 per cent. . . .. . . .. 243,550 Estimated total loss (exclusive of interest on rollingstock) . . . . . . .. .. 283,133 Nine miles of formation have been completed, together with a considerable amount of preliminary work, including tunnels for watercourses, culverts, streamdiversions, camps, and access roads. Traffic Las been carried on the railway between Waikokopu Harbour and Wairoa for the past six years. Work is now proceeding on the Waikokopu Breakwater. The line between Eskdale and Putorino (26f miles) is just about ready for opening. Traffic has been carried over this section for some time past. Between Putorino and Wairoa (33 miles) formation work has been completed for all but 2 miles, which should be finished in about six months. Two large viaducts have yet to be built, one of which (Maungaturanga) will be completed in fifteen months, and the other (Mohaka) about fifteen months later. These works are the chief factor in the completion of the line, which should, therefore, be ready for opening from Putorino to Wairoa in about two years and a half.

Estimated Cost. ... Expenditure Length. — - to 30th June, Total. I Per Mile. | 1930 ' I I M. Ch. £ £ £ Gisborne-Waikokopu .. .. .. 35 40 1,898,000 53,465 535,249 Waikokopu-Wairoa .. .. .. 24 58 635,000 25,683 607,841 Wairoa-E skd ale .. .. .. 60 21 2,338,000 38,797 1,855,814 Total .. .. .. 120 39 4,871,000 40,427 j 2,998,904

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Stratford - Main Trunk Railway. Okahukura-Tahora Section (41 miles 40 chains). £ Estimated capital cost . . . . . . 2,259,000 Total per mile .. .. .. .. 54,434 Expenditure to 30th June, 1930 .. .. .. 1,767,580 Per Annum. £ Estimated additional revenue . . . . . . Nil. Estimated additional expenditure .. .. 39,700 Estimated loss on operation .. .. .. 39,700 Interest at 5 per cent. .. .. .. .. 112,950 Estimated total loss .. .. .. .. 152,650 The Okahukura-Tahora Section is the final link in the Stratford - Main Trunk connection. At the western end 3 miles 30 chains between Tahora and Tangarakau should be ready for opening about January, 1931. Of the remaining 4 miles 50 chains at the western end 50 per cent, is tunnel. Two tunnels have been completed, a third is more than half done, and the fourth and last tunnel has the bottom heading well under way. Only about 20 chains of formation have still to be done. At the eastern end (33-| miles) the line has been completed between Okahukura and Ohura (19 miles 10 chains), and traffic has been carried over it by the Public Works Department for some time. Beyond Ohura the rails have been laid for 3f miles. There are five tunnels, aggregating 95 chains in length, of which 46 chains have been completed. Formation has also been completed except for about 70 chains of heavy work. Several bridges have yet to be built. A considerable proportion of the traffic now carried via Marton between the Main Trunk line and stations north of Wanganui will be diverted to the new and shorter route, resulting in a substantial loss of revenue, which will, however, be set off very largely by the reduced haulage costs and by any additional traffic that may be developed. On this basis the loss will be equivalent to the cost of working the new line, plus interest charges on the capital cost. South Island Main Trunk Railway. Wharanui-Parnassus Section (76 miles.) £ Estimated capital cost .. .. .. .. 2,581,000 Total per mile .. .. .. .. 33,961 Expenditure to 30th June, 1930 . . . . . . 193,631 Per Annum, £ Estimated additional revenue .. . , .. 112,300 Estimated additional expenditure .. .. 77,140 Estimated additional net revenue . . .. 35,160 Estimated interest charges at 5 per cent, (including allowance for rolling-stock) .. .. .. 135,160 Estimated loss . . . - . . . . . . 100,000 At the northern end 4 miles of formation were completed several years ago. An additional 8 miles is now in progress, and arrangements are being made to start work on a 27-chain tunnel under the Hawkswood Saddle. At the southern end formation is in hand for 4 miles. The permanent line has been surveyed for about 30 miles south of Wharanui and for about 10 miles north of Parnassus. The estimated revenue is based on the assumption that 60,000 passengers per annum will travel between Wellington and Christchurch by the new route in preference to the Wei 1 ington-Ly ttelton route. In estimating the expenditure due allowance has been made for the fact that the existing train services would be adequate to carry the additional passenger traffic between Picton and Blenheim, and between Parnassus and Christchurch.

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Westport-Inang ahua Railway (26 Miles). f Estimated capital cost .. .. .. .. 877,000 Total per mile .. .. .. .. 33,731 Expenditure to 30th June, 1930 .. . , . . 373,398 Per Annum. £ Estimated additional revenue .. . . . . 43,000 Estimated additional expenditure .. .. .. 36,000 Estimated net operating revenue . . . . . . 7,000 Interest at 5 per cent, (exclusive of rolling-stock) . . 43,850 Estimated loss .. .. .. .. .. 36,850 The Westport-Inangahua line will connect the Westport Section with the South Island main lines. The line is completed between Westport and Cascade Station (9 miles), and traffic is being carried by the Public Works Department. Beyond Cascade formation is in hand for 12 miles, of which 6f miles have been completed. The rails have been laid for 75 chains beyond Cascade. Bushfelling and clearing has been done well ahead of the formation work. At the Inangahua end work has been started on the formation between Inangahua and the Buller River, and bores have been put down to obtain information regarding the foundations of the bridge over the Buller River. Midland Railway. Kawatiri-Inangahua Section (46 miles 43 chains). £ Estimated capital cost . . .. . . 1,853,000 Total per mile .. .. .. 39,817 Expenditure to 30th June, 1930 .. .. . . 187,560 Per Annum. £ Estimated additional revenue .. .. .. 38,200 Estimated additional expenditure . . . . 48,800 Estimated operating loss.. .. .. .. 10,600 Interest at 5 per cent, (exclusive of rolling-stock) .. 92,650 Estimated total loss .. .. .. .. 103,250 The Kawatiri-Inangahua Section will, when completed, link up the Nelson Section with the South Island main lines. The line is practically completed between Kawatiri and Cowan (3 miles 73 chains). Beyond Gowan formation is in hand for 8 miles, of which 4j miles have been completed. The survey of the permanent line is completed for twelve miles ahead of the formation work.

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