D.—2

XXI

BESULTS OF WOBKING. The following is a summary of the results of working for the year ended 31st March, 1924, as compared with 1923: —

In view of the existing conditions it is still necessary to take a conservative view in making a forecast for the Railway revenue for the coming year. I, however, anticipate the revenue will reach .£7,000,000 and the expenditure £6,050,000.

Year ended 31st March Particulars. 1924. 1923. Total miles open for traffic ... ... ... I 3,053 3,037 Average miles open for year ... ... ... j 3,044 3,036 I • Capital cost of opened and unopened lines ... ... £48,738,821 £46,851,071 Capital cose of open lines ... ... ... £41,399,427 £40,275,161 Capital cost per mile of open lines ... ... ... £13,560 £13,261 Gross earnings ... ... ... ... £6,984,211 £6,727,802 Working-expenses ... ... ... ... £5,403,766 £5,502,497 NET PROFIT ON WORKING £1,580,445 £1,225,305 PERCENTAGE OF PROFIT TO CAPITAL j INVESTED ... ... 383 304 PERCENTAGE OF WORKING-EXPENSES TO EARNINGS 77 37 8179 Earnings per average mile open ... ... ... £2,291 £2,219 Working-expenses per average mile open ... ... £1,772 £1,813 NET EARNINGS PER AVERAGE MILE OPEN. • ... ... ... ... £519 £406 d. d. Earnings per train-mile ... ... ... ... 185 50 193-18 Working-expenses per train-mile ... ... ... 143 43 157'81 NET EARNINGS PER TRAIN-MILE 42 07 35 37 Passengers, ordinary ... ... ... ... 13,836,311 14,256,610 Season tickets ... ... ... ... 525,744 485,681 Goods tonnage ... ... ... ... 6,519,457 6,234,807 Live-stock tonnage ... .. ... ... 406,060 383,781 Train-mileage ... ... ... ... 9,024,503 8,346,731 Locomotives ... ... ... ... 655 639 Passenger-cars ... ... ... ... 1,527 1,498 Wagons and brake-vans ... ... ... ... 26,195 26,106