Figures made public in Auckland on July 4th by Mr. H. H. Sterling, Chairman of the Government Railways Board, indicate that notwithstanding a decline in revenue the railways in the past financial year made a net revenue gain by reason of the economies effected in expenditure.

Mr. Sterling said the past year had been an exceedingly trying one, and difficult in itself by reason of the complications inevitably associated with the continuation and intensification of the depression. In addition, there had been of course, a tremendous volume of work inseparable from such a radical change in the control of the business of the Department as had taken place with the constitution of the Board. Practically every major question affecting the Department's working had been, or in the near future would be, brought under review by the Board, and this had placed a heavy burden on the organisation, having regard to the fact that the routine requirements of the business called for the greatest possible vigilance in order to secure the best results. That those results had been secured seemed to be amply justified by the figures for the last year's operations.