92. In 1980 it was decided to include in the accounts Interest on the net depreciation debited to Operating Expenses and credited to Depreciation Reserves.
The amount in respect of the current year was $9,106.20 and is included in the Income Account under sub-head Interest on Depreciation Reserves.
93. Interest on Loan and Special Expenditure and other items for the current year were included in the Income Account and the balance carried to Profit and Loss Account, this balance standing at $659,639.84 being transferred to Surplus Appropriation Account. The accumulated deficit at the end of the year was $8,495,384.23.
STAFF.
94. Mr. R. Baker, Manager & Chief Engineer, proceeded to England on long leave on the 28th March and was absent during the remainder of the year. In the interim Mr. G. A. Walker, Traffic Manager was appointed to act as Manager. Mr. C. J. Waddell of the Public Works Department was seconded to the Railway Department to act as Engineer of Way & Works and Mr. I. B. Trevor acted as Traffic Manager in addition to his other duties.
Mr. J. Smith, Assistant Mechanical Engineer, proceeded on long leave on 7th November.
12th March, 1932.
ROBERT BAKER,
Manager & Chief Engineer.
S 13
92. In 1980 it was decided to include in the accounts Interest on the net depreciation debited to Operating Expenses and credited to Depreciation Reserves.
The amount in respect of the current year was $9,106.20 and is included in the Income Account under sub-head Interest on Depreciation Reserves.
93. Interest on Loan and Special Expenditure and other items for the current year were included in the Income Account and the balance carried to Profit and Loss Account, this balance standing at $659,639.84 being transferred to Surplus Appropria- tion Account. The accumulated deficit at the end of the year was $8,495,384.23.
STAFF.
94. Mr. R. Baker, Manager & Chief Engineer, proceeded to England on long leave on the 28th March and was absent during the remainder of the year. In the interim Mr. G. A. Walker, Traffic Manager was appointed to act as Manager. Mr. C. J. Waddell of the Public Works Department was seconded to the Railway Department to act as Engineer of Way & Works and Mr. I. B. Trevor acted as Traffic Manager in addition to his other duties.
Mr. J. Smith, Assistant Mechanical Engineer, proceeded on iong leave on 7th November.
12th March, 1932.
ROBERT BAKER,
Manager & Chief Engineer.
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