D—2

RESULTS OF WORKING The following is a statement of the results of working for the past five years :—•

For the current year it is anticipated that the revenue will reach £15,268,000 and the expenditure £15,267,000.

5

Particulars. Year ended 31st March, 1946. 1945. 1944. 1943. 1942. Total miles open for traffic Average miles open for year .. 3,528 3,511 3,504 3,504 3,504 3,469 3,460 3,403 3,390 3,390 Capital cost of opened and unopened lines •Capital cost of open lines Capital cost per mile of open lines £76,012,797 £74,466,731 £21,107 £74,874,045 £71,353,574 £20,364 £74,289,351 £70,999,125 £20,262 £73,951,515 £68,685,063 £19,851 £73,723,223 £64,904,020 £19,146 Gross earnings Working-expenses NET EARNINGS £15,444,847 £14,384,844 £1,060,003 £14,459,750 £13,260,277 £1,199,473 £15,325,306 £12,757,336 £2,567,970 £14,128,993 £11,302,413 £2,826,580 £11,938,338 £10,056,034 £1,882,304 Interest charges £2,889,195 £2,842,399 £2,765,724 £2,622,713 £2,756,146 PERCENTAGE OF TOTAL WORKING - EXPENSES TO GROSS EARNINGS 93-14 91-71 83-24 79-99 84-23 PERCENTAGE OF NET EARNINGS TO AVERAGE CAPITAL INVESTED IN OPEN LINES 1-47 1-69 3-71 4-31 2-90 Railway operating earnings .. Railway operating expenses .. NET RAILWAY OPERATING EARNINGS PERCENTAGE OF RAILWAY OPERATING EXPENSES TO EARNINGS £13,104,587 £12,549,724 £554,863 95-77 £12,448,307 £11,696,895 £751,412 93-96 £13,464,979 £11,365,917 £2,099,062 84-41 £12,415,080 £10,019,659 £2,395,421 80-71 £10,383,880 £8,902,592 £1,481,288 85-73 Operating earnings per average mile open Operating expenses per average mile open NET OPERATING EARNINGS PER AVERAGE MILE OPEN £3,732 £3,574 £158 £3,552 £3,338 £214 £3,881 £3,276 £605 £3,648 £2,944 £704 £3,063 £2,626 £437 Operating earnings per revenue train-mile Operating expenses per revenue train-mile NET OPERATING EARNINGS PER TRAIN-MILE d. 233-76 223-86 9-90 d. 233-36 219-27 14-09 d. 210-82 177-95 32-87 d. 196-81 158-83 37-98 d. 178-28 152-85 25-43 Passengers, ordinary.. Season tickets Total passenger journeys Goods tonnage Live-stock tonnage Train-mileage (revenue) Engine-mileage 13,553,083 1,369,572 32,417,675 8,388,191 822,275 13,454,508 18,855,174 13,629,523 1,394,817 32,994,529 8,177,551 776,688 12,802,536 18,168,727 18,317,323 1,518,045 38,611,267 8,233,489 793,137 15,328,987 21,095,680 17,171,214 1,377,825 36,133,268 8,035,046 ' 852,043 15,139,882 20,736,574 11,105,627 1,167,115 28,610,945 7,734,650 739,115 13,978,961 19,147,871