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34. The Profit and Loss Account and General Balance Sheet omitted last year, have been included in this year's report, a ruling regarding the treatment of accumulated deficits having now been received. No records are available for the years 1940 and 1941 and the amount of $6,735,070 as appeared in the 1939 report has been taken as the total brought forward to the 1946/47 Account. It is possible that the 1939 deficit may have been increased during the years 1940 and 1941.
35. The Capital Account now stands at $21,298,081, there having been an increase of $2,335,558. This figure includes the sum of $1,145,143 which is the estimated value of six Austerity locomotives received during the year.
36. The working results for the past two years are as under :-
Year
1946/47
1947/48
Operating
Gross Receipts
Expenses
$4,431,700.03
$2,226,388.73
6,431,252.29 3,302,465.42
Net Operating
Revenue
$2,205,311.30 3,128,786.87
37. Receipts and expenditure under the most important heads during the past two years are given below:
Operating Receipts.
Heads
1946/47
1947/48
R-1 Passenger Service,
Passengers
$3,028,095.17
$5,129,206.43
R-2 Passenger Service, Other
R-3 Goods Service, Goods
293,799.51
167,485.47
738,732.78
618,634.42
R-4
Other
""
""
11,706.00
15,206.60
R-7 Profit on Central
Mechanical Works
131,951.74
50,276.19
R-8 Rents
89,651.67
137,768.87
R-9
Incidental Revenue
137,763.16
149,139.37
R-10 Auxiliary Operation
Foreign Haulage
150,674.94
R-11 Interchange of Rolling Stock
12,860.00
Operating Expenditure.
Heads
E-1 General Expenses
1946/47 $186,766.48
E-2 Traffic Expenses
326,345.94
E-3 Running Expenses
719,707.20
E-4 Maintenance of Equipment
537,697.44
Structures
455,871.67
1947/48
$ 305,316.90
466,677.06 1,346,110.62 658,678.24
E-5 Maintenance of Way and
525,682.60
38. A large area of storage space was let for the greater part of the year and in consequence revenue from rentals increased from $89,652 to $137,769.