D.—2.

1896. NEW ZEALAND.

RAILWAYS STATEMENT. (17th July, 1896.) BY THE MINISTER FOR RAILWAYS. THE HON, A. J, CADMAN.

Mb. Speaker,— The Eailway Statement last year dealt with a period of three months working under Government control and nine months working under the control ot the late Eailway Commissioners. I have now to lay before Parliament my Statement for the first complete years working under Government management, and I have no doubt that Honourable members will be much gratified at the results shown ? The number of miles now open for traffic is 2,014, or 21 miles more than The revenue for 1895-96 has been ... £1 133 041 for 1894-95 Z l^O^l Giving an increase of ... ... £32 iqq The Government have considered that no reliable estimate can be formed of the earmng-power of the railways in the absence of a strict debit and credit account for all services (whether public or departmental) performed both by and for the railways. In conformity with, this view the railways have been credited with the sum of £36,152 for services performed for other Government Departments and have been debited with £17,724 for services performed by other Government Departments for the railways. By this means a sum of £18,428 has been added to the railway revenue The net increase of railway revenue over last year's results is, when this item is deducted, therefore £13,762, to which may be added the sum of £43 000 the estimated value of concessions made by the Government in fares and freight's Notwithstanding that an additional sum of £72,919 has been added & to the capital cost of the open railways, by practising the strictest economy £2 16s per cent, has been earned this year on a capital cost of £15,425 532 as com' pared with £2 14s. 6d. per cent, on a capital cost of £15,352,613 last year Evidence of the care exercised in controlling the expenditure is shown by the rate of expenditure per cent, of revenue, as also the cost per train-mile which m both cases have fallen as compared with last year's figures • and these results have been obtained notwithstanding that both passengers and goods have