!
di
5.
right side by (a) sales of plant, (b) remittances from
the Peking Government.
There is still a loss sustained on local notes,
discount in relation to Hongkong currency being about
20%. These financial matters, however, do not affect
joint sectional working.
the
77
aference to
(Mp. Para.No.7.
The charge of unpunctuality of trains of the
Chinese Section is characterised as unfair and untrue in
view of the unavoidable delay incurred by the great floods
and heavy rains of June and July.
As to the last two paragraphs of Sir Henry May's
despatch, I would quote the following abstract from a
memorandum furnished me by the Engineer-in-Chief.
There is sufficient rolling stock on our section
to meet present needs. Our local trains are pretty well
filled, Myxspinienxixxihutxthrough trains are unfortu-
nately anything but well filled. My opinion is that we
could scarcely improve(with regard to working expenses
and presumptive revenue earnings) our train service at
present if we had all the rolling stock in China.
"At one time in the early part of 1912, it looked
a.s