S 17
III.--ACCOUNTS.
1.--General.
53. The Capital Account now stands at $20,476,703.51, having been increased by $14,364.21 during the year.
54. The net operating revenue for the year was $436,935.30 and, after making provision for all interest charges, the net surplus was $339,894.52. This sum has been applied to the reduction of the accumulated deficits brought forward from previous years. The total accumulated deficits at the close of the year was $7,590,977.98.
55. The working results for the past five years are as under:-
| Year | Net Operating Revenue | Gross Operating Receipts | Expenses | | --- | --- | --- | --- | | 1933 | 711,052.42 | 1,630,610.83 | 919,558.41 | | 1934 Actual | 696,604.41 | 1,639,775.07 | 943,170.66 | | [Weighted Actual] | | | | | 1935 | 500,654.48 | 1,411,087.76 | 911,020.25 | | Weighted | 601,385.01 | 1,512,405.26 | | | 1936 Actual | 454,733.00 | 1,245,469.16 | 790,736.16 | | | 571,706.16 | 1,362,442.32 | | | 1937 | 436,935.30 | 1,331,468.73 | 894,533.43 | | Weighted Actual | 572,039.30 | 1,466,572.73 | |The weighted figures, which are included for comparison, are based on a 35% apportionment of terminal through receipts, which was the British Section's share prior to October 1st, 1934. As a proportion of the operating expenses are dependent on the sterling exchange value of the dollar, the expenditure figures cannot be regarded as truly comparative.
56. Receipts and expenditure under the most important heads are given below and compared with Estimates for the year and Actuals for the preceding year:
| Operating Receipts | 1936 Actuals ($) | 1937 Estimates ($) | 1937 Actuals ($) | | --- | --- | --- | --- | | R-1 Passenger Service, Through | 613,285 | 570,000 | 568,972 | | R-1 Passenger Service, Local | 412,443 | 345,000 | 297,412 | | R-3 Goods Service, Through | | | 43,477 | | R-3 Goods Service, Local | 161,409 | 41,000 | 13,714 | | R-7 Profit on Central Mechanical Works | 17,597 | 12,500 | 17,252 | | R-8 Rents | 150 | | 12,786 | | R-9 Incidental Revenue | 15,988 | 9,300 | 58,522 | | R-10 Foreign Train Haulage | 46,612 | 39,000 | 50,953 | | | 132,483 | 72,400 | 92,606 |+ This figure was revised to $259,000 in October 1936 when the effect of the closure of Shum Chun Casino could be gauged.