D.—lA.

2

I am glad to be able to state that, so far as we have gone, we have good reason to be satisfied. For the first four weeks the gross earnings were £7,133 more than for a period of one day less than that of last year, which would, for purposes of comparison, be equal to an improvement of nearly £10,000; while, at the same time, the expenses were only increased by £86, again showing that the expenditure does not, as has been stated by some, increase with the increase of traffic, the fact being that our present train services will permit of a still larger increase of traffic without much increase of expenditure.

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