k
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yet been prepared. Plans of the other buildings have already been forwarded.
12.
The earnings in 1914 of the main and branch lines of the Kowloon-Canton Railway are estimated at £372,600 or 853,000 more than the amount approved for 1913. The unrest which has prevailed in South China during the current year has seriously interfered with the normal development of traffic and until more settled conditions are established any considerable advance in earnings cannot be expected. Working expenses are estimated at 8271,209, an increase of $14,810 over the amount approved for 1913 which is entirely due to expenses incidental to an increased train
service.
The nett estimated result of next year's work- -ing is given in footnote 3 on page 119 from which it will be seen
that expenditure on all accounts is estimated at $841,864 and
receipts at 8372,600, leaving a deficit to be met from General
Revenue of $469,264.
13.
In framing the budget for the coming year, I
have estimated for an appropriation from the accumulation of
surplus balances of a sum of 8842,896. It was arranged to finance
the Typhoon Refuge half out of reserves and half by means of a
special assessment of Light Dues. By the end of the current year
it is expected that $1,448,200 will have been expended on this
work and if the estimate of $500,000 for next year is realised the
total expenditure will by the end of that year have reached a sun
of $1,948,200. The amount payable for the period out of reserves
should therefore be 8974,100. Owing, however, to a succession of
annual surpluses since 1909 only the cost of the dredger purchased
in 1908 for $175,000 had up to the end of 1912 been so charged and
$150,000 of this amount has since been credited to the vote and
the dredger taken on charge on plant account. Taking this nett charge of $25,000 into account and assuming that next year's estimate of 500,000 and the anticipated deficit of 8443,897 on
this
E