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1903. NEW ZEALAND.

RAILWAYS STATEMENT (21st July, 1903.) BY THE MINISTER FOR RAILWAYS. THE HON. SIR J. G. WARD, K.C.M.G.

Me. Speaker,— In presenting the Railways Statement for the year ended 31st March, 1903, I am very much gratified to have to announce that the year's operations of our Railways have again been most satisfactory, and show a large increase on the business of the preceding financial year, notwithstanding the fact that the latter was a record one. The results of working may be summarised thus : — Year 1903. Year 1902. £ £ Total earnings ... ... ... ... 1,974,038 1,874,586 Total expenditure ... ... ... ... 1,343,415 1,252,237 Net profit on working ... ... ... 630,623 622,349 Net increase over previous year, £8,274. GENERAL. The mileage of track open for traffic at the end of the year was 2,291 miles, as against 2,235 miles open on 31st March, 1902. The average miles operated during the year was 2,262. The capital cost of lines open for traffic has increased from £18,170,722 last year to £19,081,735 for the year under review. The net revenue, £630,623, is equal to a return of 330 per cent, on the capital invested in the open lines. The Kawakawa and Nelson Sections have failed to pay working-expenses, the deficit of receipts on the former section being £834, and on the latter £533. The increase of 376,973 train miles run represents additional facilities afforded to meet the convenience of the travelling public and the demands of the increased business. The permanent additions made to time-tables represent 246,597 miles, and a cost of £60,622. The system of separating the goods and passenger services inaugurated two years ago has given satisfaction, and is being extended from time to time to meet the requirements of the traffic. Various alterations and improvements have been made in the train services throughout the colony. The principal of these has been the establishment of a daily express service between Auckland and Rotorua, extension of suburban service on Auckland North line to Henderson, and the acceleration by forty-five minutes of the Christchurch-Dunedin expresses. The latter trains now arrive at their termini at 8.15 p.m. instead of 9 p.m., the north-bound train running right alongside the connecting steamer for Wellington. On the Wellington-New Plymouth line the comfort and convenience of through passengers have been very materially increased by the arrangement entered into with the Wellington and Manawatu Railway Company, which permits of the cars of the Government and Company respectively going through to destination, thus avoiding the necessity which formerly existed for changing cars at Palmerston North. This' alteration has been greatly appreciated by through passengers.

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