D—2

STATEMENT No. 2 Income and Expenditure of the Whole Undertaking for the Year ended 31st March, 1948

Net Revenue Account

15

Year 1947-48. Year 1946-47. Statement —- No. Gross Revenue. Expenditure. Net Revenue. Gross Revenue. Expenditure. Net Revenue. £ £ £ £ £ £ Railway operation 3 13,964,280 15,090,091 Dr.1,125,811 12,823,784 13,644,779 Dr. 820,995 Lake Wakatipu steamers 4 12,996 16,461 Dr. 3,465 12,501 16,477 Dr. 3,976 Refreshment service 5 325,002 331,666 Dr. 6,664 340,798 333,467 7,331 Bookstall service 5a 238,785 236,904 1,881 205,180 202,459 2,721 Advertising service .. .. 6 54,911 40,748 14,163 47,925 37,701 10,224 Dwellings 7 167,582 281,318 Dr. 113,736 159,816 279,598 Dr. 119,782 Buildings occupied by subsidiary services 8 59,744 47,204 12,540 53,851 41,002 12,849 Road motor services 9 1,741,786 1,666,505 75,281 1,555,686 1,388,787 166,899 Miscellaneous revenue •• 505,786 505,786 480,516 480,516 17,070,872 17,710,897 15,680,057 15,944,270 Total net loss to Net Revenue Account 640,025 264,213

Dr. 1947-48. 1946-47. Or. 1947-48. 1946-47. Net loss before charging interest on capital Interest charges £ 640,025 3,030,033 £ 264,213 2,992,900 Receipt from vote " Stabilization " .. Reduction on account of interest charges, vide section 14, Finance Act, 1930 (No. 2) £ 640,025 3,030,033 £ 264,213 2,992,900 3,670,058 3,257,113 3,670,058 3,257,113