D.—2

V

RESULTS OF WORKING. The following is a summary of results of working, for year ending the 31st March, 1912, as compared with 1911:—

CONCLUDING REMARKS AND FORECAST. The works connected with the Hutt Road and railway improvements being now practically completed, it is necessary and desirable that those local bodies who are responsible for the upkeep of the road should take it over at an early date. With this end in view, arrangements are being made to appoint a Commissioner, in terms of the Hutt Road and Railways Improvements Act, to apportion the charges incurred in the formation of the road among the respective local bodies concerned. In the meantime, the whole of the expenditure incurred on the road is being borne by the Railway Department and charged to a special account, so that full details of the

Year ended Slsl Marob. PABTIGUIiABB. 1911. 191-2. Total miles open for traffic 2,7(il 2,808 Average miles open for year 2,742 2, SOI Capital coat of opened ami unopened lines £31,509,960 632,689,179 Capital cost of open lines 629,606,546 £30,506,089 Capital cost per mile of open lines ... 610,723 610,864 Gross earnings £3,494,182 £3,676,509 Working-expenses 63,303,272 £2,465,896 NET PROFIT ON WORKING £1,190,910 £1,210,613 PERCENTAGE OP PROFIT TO CAPITAL INVESTED ... 406 398 i PERCENTAGE OF WORKING-EXPENSES TO EARNINGS 6592 6707 Earnings per average mile open 61,275 £1,314 Working-expenses per average mile open 684 ) 6881 NET EARNINGS PER AVERAGE MILE OPEN.. £435 £433 Earnings per train-mile ... d. 102-75 105-25 Working-expenses per train-mile 6775 70-52 NET EARNINGS PER TRAIN-MILE 3500 34-73 Passengers, ordinary 11,200,613 11,891,134 Season tickets 222,104 236,957 G oods tonnage 5.555,292 5,599,756 Live-stock tonnage 308,382 288,152 Train-mileage 8,141,075 8,371,687 Locomotives 478 493 Passenger-cars 1,166 1,212 Wagons and brake vans ... 18.036 18,521 >- ,