# S 13
## III. ACCOUNTS.
### 1. General.
51. The Capital Account now stands at $20,737,858.81, having been increased by $261,155.30 during the year. The rise is due mainly to the purchase of 20 wagons, 2 shunting locomotives and a 5-ton crane.
52. The net operating revenue for the year was $932,418.48 and, after making provision for all interest charges, the net surplus was $834,739.77. 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 were $6,756,238.21.
53. The working results for the past five years are as under:-
Year Gross Receipts. Operating Expenses. Net Operating Revenue. 1934 $1,639,775.07 $943,170.66 $696,604.41 1935 $1,411,087.76 $911,020.25 $500,654.48 1936 $1,245,469.16 $790,736.16 $454,733.00 1937 $1,331,468.73 $894,533.43 $436,935.30 1938 $1,901,883.32 $969,464.84 $932,418.4854. 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. Actuals 1937 Estimates 1938 Actuals 1938 R-1 Passenger Service, Through $613,285 $650,000 $303,834 R-1 Passenger Service, Local $297,412 $268,000 $480,495 R-3 Goods Service, Through $161,409 $50,000 $545,075 R-3 Goods Service, Local $17,597 $16,000 $26,228 R-7 Profit on Central Mechanical Works $12,786 $200 $61,331 R-8 Rents $58,522 $7,900 $187,260 R-9 Incidental Revenue $50,953 $40,000 $121,649 R-10 Foreign Train Haulage $92,606 $62,137 Operating Expenditure. Actuals 1937 Estimates 1938 Actuals 1938 E-1 General Expenses $176,374 $184,968 $187,834 E-2 Traffic Expenses $102,404 $109,498 $112,513 E-3 Running Expenses $224,473 $205,950 $337,678 E-4 Maintenance of Equipment $201,692 $229,785 $212,623 E-5 Maintenance of Way and Structures $119,870 $118,818 $189,591Large differences between Estimates and Actuals are explained by the fact that the former were prepared before the commencement of Sino-Japanese hostilities.