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by transfer accepted by the Treasury. The portion not payable by the occupants which amounted to $121.63 was adjusted in the accounts, and appears in the Income Account.

92. The foreign passenger receipts were $650,278.84 as against $577,085.30 in 1932, an increase of $73,193.54 or 12.68% in comparison with an increase of 11.40% in the numbers of passengers, the difference being accounted for by greater patronage of the higher classes.

93. The exchange between Canton and Hong Kong continued to fall. The average for the year being 148-100 thus adversely affecting the British Section's share of receipts on conversion to Hong Kong currency.

94. The foreign goods earnings were $43,035.84 as compared with $33,550.84 for the previous year, an increase of 28.27%.

95. The income from rents increased from $13,587.41 to $18,487.44, and incidental revenue was $6,696.45 as compared with $4,999.02 for 1932.

96. Under sub-head R.10 Auxiliary Operation Foreign Haulage, the receipts were $30,881.40 more than 1932, as the result of additional week-end trains and also a fast goods train from 30th September to the end of the year. These trains were hauled over both Sections of the Railway by British Section locomotives. Further to cope with the heavy traffic by express trains, it was frequently found necessary to attach coaches in excess of the normal number, the haulage of additional coaches being charged for in accordance with the provisions of the Locomotives Agreement.

97. The revenue under sub-head R.11 Interchange of rolling stock increased from $3,647.35 to $5,669.89. The British Section's preponderance of all classes of rolling stock, particularly of 4-wheel 15-ton wagons, for which hire is paid when used by the Chinese Section, again accounted for this increase.

98. The total Operating Expenses amounted to $919,558.41 or $42,818.64 less than the previous year.

99. The salaries of the Junior Clerical Service, which were formerly grouped with those of other Government Departments under the head of Junior Clerical Service were this year provided for in the Railway Estimates of working expenses. Other items of expenditure whether provided for in the Railway Estimates or otherwise are taken into account and included in the total Operating Expenses.

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