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pitching for the protection of the banks from flood is a really cost- -ly item. Besides the expense there is the general unsightliness of
the line arising from this cause which contrasts very unfavourably
with the tidiness of the Britsh Section.
The financial position of the Railway must be only
too familiar to you but I would like to emphasise the difficulties of
the Chief Accountant in working with a debit balance and the implea-
-sant fact of a cheque draw by the Railway having been dishonoured.
I am trying to introduce what small economies I can
without impairing the efficiency of the line although salaries etc.
are already lower than on any other Government railway in China.
As far as the foreign staff is concerned, a reduction
has been effected in the figures of the previous year of three in
numbers and about $12,000 per anmm in salaries. For the present it is
possible to work with the existing staff but with any increase in
business the old arrangement will have to be restored.
I would like to suggest for your consideration that
the office of Assistant Managing Director which is now kept up in Hongkong might under present conditions be disposed with, thus effect- -ing some further saving.
During the last month the traffics have improved slightly and unless something unforeseen occurs our receipts and working expenses should just about balance in the coming year.
I see no hope of the present line of railway ever paying the interest on the loan unless branch lines and extensions are built. Thess involve the spending of more money but the extra traffic they would bring to the main line would more than justify
the cost.
A narrow gauge line has lately been constructed from Nam Kong Station to Lo Kong a distance of 5 miles, by the local gentry and this already brings in to us an appreciable amount of business. Another similar line might be built from Sien Tsun to Tsang Shen, 18 miles long, from which a good deal more might be expected.
A branch from Sheklung up the East River of standard gauge but with light rails and very cheap equipment is a work which
should