Appendix.
KOWLOON-CANTON RAILWAY. (British Section).
ANNUAL REPORT FOR 1931.
GENERAL.
1. It is satisfactory to record that notwithstanding the general depression of trade and a very regrettable accident on the British Section, referred to later, the year 1931 proved on the whole a very successful year for the Railway.
2. Running expenses were slightly heavier than during the previous year, but increases in traffic, traffic receipts and train mileage showed that steady progress was made.
3. The sterling value of the Colony's dollar remained depressed to round about 1¼d until October when, after England had abandoned the gold standard, the dollar recovered to about 1/4. This sudden appreciation in exchange naturally affected sterling salaries and the cost of sterling supplies.
4. Operating Expenses actually increased by $104,981.85, while net Revenue amounted to $150,094.76 as compared with $133,106.47 for 1930.
5. Local fares were raised as from the 1st January to a basis more in unison with those on the Chinese Section.
6. Good progress was made on the Chinese Section with the reconditioning of the track, and this enabled reductions to be made in the duration of the through journey between the two termini of Kowloon and Canton.
7. All through express trains continued to be hauled by British Section engines, and the three new engines referred to in last year's Report were brought into service in May and proved both efficient and economical.
8. The year's working therefore may be considered highly satisfactory, and in the present state of universal depression the Railway that can show an increase over its previous year's revenue may consider itself fortunate indeed.
Appendix.
KOWLOON-CANTON RAILWAY. (British Section).
ANNUAL REPORT FOR 1931.
GENERAL.
1. It is satisfactory to record that notwithstanding the general depression of trade and a very regrettable accident on the British Section, referred to later, the year 1931 proved on the whole a very successful year for the Railway.
2. Running expenses were slightly heavier than during the previous year, but increases in traffic, traffic receipts and train mileage showed that steady progress was made.
3. The sterling value of the Colony's dollar remained depressed to round about 114d until October when, after England had abandoned the gold standard, the dollar recovered to about 1/4 This sudden appreciation in exchange naturally affected sterling salaries and the cost of sterling supplies.
4. Operating Expenses actually increased by $104,981.85, while net Revenue amounted to $150,094.76 as compared with $133,106.47 for 1930.
5. Local fares were raised as from the 1st January to à basis more in unison with those on the Chinese Section.
6. Good progress was made on the Chinese Section with the reconditioning of the track, and this enabled reductions to be made in the duration of the through journey between the two termini of Kowloon and Canton.
7. All through express trains continued to be hauled by British Section engines, and the three new engines referred to in last year's Report were brought into service in May and proved both efficient and economical.
8. The year's working therefore may be considered highly satisfactory, and in the present state of universal depression the Railway that can show an increase over its previous year's revenue may consider itself fortunate indeed.
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