Appendix S.
KOWLOON-CANTON RAILWAY. (British Section).
ANNUAL REPORT FOR 1930.
GENERAL.
1. The year 1930 was remarkable for the disastrous fall in the value of silver, and as the Railway is situated in a Colony which employs a silver currency, this fact must be given due consideration when comparing the Report for 1930 with those of previous years.
2. The fall in the exchange value of the Hong Kong dollar during the latter part of 1929 and the early part of 1930, so enhanced the cost of living that it became necessary to revise salaries and wages by approximately 15% on sterling salaries and 20% on dollar ones, as from the 1st January 1930. This together with the increasing costs of all stores and materials imported from gold standard countries, seriously increased the cost of operating expenses.
3. Silver continued to decline rapidly until the end of the year, which necessitated arrangements being made for a revision of fares and rates by the beginning of 1931.
4. Notwithstanding these adverse circumstances, and the fact that Operating Expenses increased by $88,045 over those of 1929, net Revenue amounted to $133,106 as compared with $138,767 for the previous year.
5. The numbers of through passengers between Kowloon and Canton, showed during the first half of the year a slight decline compared with the figures for the same period in 1929, and during the latter part of the year, fell off considerably in comparison, owing to the Chinese Section being obliged to impose severe speed restrictions over portions of their line from the middle of June on account of the condition of their track, thus increasing the duration of the journey from 4 to 5 hours and causing an immediate drop in the numbers of through passengers. The Chinese Section however procured sufficient soft wood sleepers by the end of August to enable the journey to be performed in 4 hours; the numbers of through passengers then recovered, and the numbers travelling by the higher classes showed considerable improvement.
6. Later in the year the Chinese Section arranged for a large supply of hardwood sleepers for the purpose of rehabilitating their track at the earliest possible date, but deliveries only began in December.
Appendix S.
KOWLOON-CANTON RAILWAY. (British Section).
ANNUAL REPORT FOR 1930.
GENERAL.
1. The year 1930 was remarkable for the disastrous fall in the value of silver, and as the Railway is situated in a Colony which employs a silver currency, this fact must be given due consideration when comparing the Report for 1930 with those of previous years.
2. The fall in the exchange value of the Hong Kong dollar during the latter part of 1929 and the early part of 1930, so enhanced the cost of living that it became necessary to revise. salaries and wages by approximately 15% on sterling salaries and 20% on dollar ones, as from the 1st January 1930. This together with the increasing costs of all stores and mate- rials imported from gold standard countries, seriously increased the cost of operating expenses.
3. Silver continued to decline rapidly until the end of the year, which necessitated arrangements being made for a revi- sion of fares and rates by the beginning of 1981.
4. Notwithstanding these adverse circumstances, and the fact that Operating Expenses increased by $88,045 over those of 1929, net Revenue amounted to $133,106 as compared with $138,767 for the previous year.
5. The numbers of through passengers between Kowloon and Canton, showed during the first half of the year a slight decline compared with the figures for the same period in 1929, and during the latter part of the year, fell off considerably in comparison, owing to the Chinese Section being obliged to im- pose severe speed restrictions over portions of their line from the middle of June on account of the condition of their track, thus increasing the duration of the journey from 4 to 5 hours and causing an immediate drop in the numbers of through passengers. The Chinese Section however procured sufficient soft wood sleepers by the end of August to enable the journey to be performed in 4 hours; the numbers of through passen- gers then recovered, and the numbers travelling by the higher classes showed considerable improvement.
6. Later in the year the Chinese Section arranged for a large supply of hardwood sleepers for the purpose of rehabilita- ting their track at the earliest possible date, but deliveries only began in December.
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