The New Zealand Railways Magazine, Volume 6, Issue 5 (November 2, 1931)
It is very gratifying to notice that the preliminary figures of the financial results for the October four-weekly period show an increase in net revenue as compared with last year of over £22,000. This has been secured in the face of a continued drop in the revenue—a feature of the Department's working that is really beyond the control of the Department, and is due to circumstances that are affecting trade and industry generally. The figures show that the efforts that have been made to curtail expenditure are bearing fruit, the drop in the expenditure for the period amounting to not less than £92,000. It is, of course, too early yet to say that we have “turned the corner,” but it is pleasing to be able to record an increase in net revenue in the face of such adverse conditions as are existing at the present time.