24
x said to be excessive
when applied to Tanganyika Railway
most prudent step.
4. The provision for renewals should
cover, in addition to rolling stock all
buildings, track, bridges and culverts,
plant and machinery and any assets
subject to wear. The amount to be
allowed annually, is the estimated cost
(as assessed from tini bolémi
of replacement of the asset
set divided by
its estimated working life (assuming a
flat rate basis is adopted, so that
interest earned is not credited to the
fund). The estimated life varies with
nature of construction, extent of user,
and climate and is a matter for technical
appreciation.
The overall % for Nigeria and Kenya i
is about 3% of price of replacement of all
wasting assets. %'s for classes of
assets are shown in Gold Coast and
Nigeria Railway reports.
The Fedenter malay, State,
W revalued its wasting assets
in