additional staff fringe benefits which were not previously shown in the Accounts. The Nett Profit was $1,349,809 compared with $2,019,962 for the previous year.
27. Another reason for the decrease in the Gross Operating Profit is that the cost of medical and dental services relating to the non- administrative staff has been taken out of the Profit and Loss Account and is now included in the Traffic and Maintenance Expenses, together with other fringe benefits. This accounts for the decrease of $575,654 in the Administrative and General Expenses compared with last year.
28. The larger Contribution in lieu of Rates and Duty this year reflects the higher rate of duty on diesel oil now charged to this item.
29. There was no significant increase in fixed assets. Additional equipment costing $38,646 was provided for the Workshops and a self-printing ticket machine costing $43,800 was purchased for the Mong Kok Station. Various improvements to existing facilities such as strengthening of tunnels, extensions of platforms, erection of shelters and provision of new fans in 3rd class carriages, etc. amounting to $344,538, were carried out during the year.
30. The Accounts and supporting data are published in Appendices I to V to this report.
MECHANICAL WORKSHOP
31. All locomotives, rolling stock, electrical and mechanical equipment, machinery and plant were maintained to a good standard during the year.
32. Locomotives. Forty-three 5,000 mile inspections, thirty-four 10,000 mile inspections, eight 30,000 mile inspections, three 60,000 mile inspections, one 240,000 mile inspection, three 480,000 mile inspections and one 720,000 mile inspection were performed on the nine diesel electric locomotives. Locomotives Nos. 52, 55, 56, 57, 58 and 59 had their wheels turned and traction motors overhauled. The harmonic balancer of locomotive No. 57 was rebuilt with new spring packs. The underframe wiring of locomotive No. 52 was renewed. Six main generators had their commutators ground and brush-holders re-conditioned. The auxiliary generators of locomotives Nos. 51, 56
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