18
On 25.10.46, Sub-Inspector Ngai Chau Tin was authorised to carry out the duties of a Permanent Way Inspector until the arrival of the latter officer.
On 1.2.47 Mr. Hung Shek Chiu was appointed to the post of Permanent Way Inspector on probation.
STORES.
74. A Board of Survey at the end of the year reported that the Stores in general were found to be in good condition and kept in accordance with regulations.
75. It has not been possible however to place a total value on the balance of unallocated stores on hand at the end of the year.
This is due to the non-arrival of debits in respect of considerable quantities of Stores received from Great Britain through the Military Authorities, and the non-receipt of debits from the Central Government Stores for certain Stores drawn from them.
76. All Stores left behind by the Japanese were taken on charge at the commencement of the year at prices which were approximately the same as those being paid for similar items during the Military Administration. A Board of Survey held towards the end of the year found a large quantity of these Stores to be unserviceable, and authority was given to write them off to the amount of $14,773.97. In addition, it was found that the original valuation placed on these stores was too high, and authority was obtained to write down the value of the remainder by $52,741.14 to prices approximately equivalent to current market rates prevailing at the end of March, 1947.
77. Stores obtained locally through the Military Authorities during the period of the British Military Administration were taken on charge at the commencement of the period under review at approximately current market rates. The balance stili in stock at the end of the period were written down in value to prices which conformed to local current costs.
78. The value of Stores obtained through local sources other than the Government Stores during the eleven
eleven months amounted to $2,462,724. Of this sum $753,192 was in respect of coal, while $803,663 was expended on fuel oil and petrol. Purchases of sleepers through the local market cost $165,490.
79. Prices generally declined throughout the period, the decrease between May 1946 and March 1947 in many instances being from 30% to 40%.