- S 13
The weighted figures are included for the sake of uniformity and are calculated on a 35% apportionment of terminal through receipts. More than 50% of operating expenses are dependent on the value of the dollar in terms of sterling, which has varied by as much as 38% in the past two years and 89% in the past four years. For this reason, the expenditure figures given above cannot be regarded as truly comparative.
57. Savings have been made on all estimated sterling commitments due to appreciation in the value of the dollar, which averaged 1s. 6d. against the basic figure of 1s. 3d.
58. General Expenses showed increased expenditure of $7,221.56. This increase is due to the fact that it was necessary to provide reliefs during the period of leave prior to retirement of the Manager and Chief Engineer and the Chief Accountant. Additional expenditure on this account amounted to $11,892.51.
59. Traffic Expenses declined 7.39%, the main saving being under the heading of salaries.
60. There was an increase in Running Expenses of 21%. This increase, which was due to greater coal and oil consumption through increased through services, was offset by larger foreign haulage receipts.
61. The sum expended on maintenance of equipment decreased 8.30%, the main savings being in respect of locomotive repairs and plant maintenance.
62. Maintenance of Way and Structures expenditure decreased by 5.96%, the saving being primarily due to cheaper sleepers.
63. Rentals decreased $3,196.89 due to the loss of $2,500.00 for a site now occupied by the Kowloon Post Office and to the cancellation of the coal storage lease at the reclamation.
64. Incidental Revenue, Foreign Line, increased by $6,157.99 due to larger catering fees, and Incidental Revenue, Home Line, increased by $12,702.52 due to the sale of condemned stores and confiscated dutiable goods found on trains.
65. Depreciation charges on rolling stock amounted to $74,233.11, and this sum has been included in the Operating Account. The amount standing to the credit of Depreciation Reserves at the close of the year was $881,772.43.
66. The exchange rate between Canton and Hong Kong fell during the year from 148 to 139, the average being 142.79. As this section's share of sectional through receipts was based on a transaction rate of 150, we were placed in an advantageous position vis-a-vis the Chinese Section with regard to down sectional receipts.
- S 13
The weighted figures are included for the sake of uniformity and are calculated on a 35% apportionment of terminal through receipts. More than 50% of operating expenses are dependent on the value of the dollar in terms of sterling which has varied by as much as 38 % in the past two years and 89% in the past four years. For this reason the expenditure figures given above cannot be regarded as truly comparative.
57. Savings have been made on all estimated sterling com- mitments due to appreciation in the value of the dollar which averaged 1s. 6d. against the basic figure of 1s. 3d.
58. General Expenses showed increased expenditure of $7,221.56. This increase is due to the fact that it was necessary to provide reliefs during the period of leave prior to retirement of the Manager and Chief Engineer and the Chief Accountant. Additional expenditure on this account amounted to $11,892.51.
59. Traffic Expenses declined 7.39%, the main saving being under the heading of salaries.
60. There was an increase in Running Expenses of 21%. This increase, which was due to greater coal and oil consumption through increased through services, was offset by larger foreign haulage receipts.
61. The sum expended on maintenance of equipment de- creased 8.30%, the main savings being in respect of locomotive repairs and plant maintenance.
62. Maintenance of Way
of Way and Structures expenditure decreased by 5.96%, the saving being primarily due to cheaper sleepers.
63. Rentals decreased $3,196 89 due to
$3,196 89 due to the loss of $2.500.00 for a site now occupied by the Kowloon Post Office and to the cancellation of the coal storage lease at the re- clamation.
64. Incidental Revenue, Foreign Line, increased by $6.157.99 due to larger catering fees, and Incidental Revenue, Home Line, increased by $12.702.52 due to the sale of con- demned stores and confiscated dutiable goods found on trains.
65, Depreciation charges on rolling stock amounted to $74.233.11 and this sum has been included in the Operating Account. The amount standing to the credit of Depreciation Reserves at the close of the year was $881,772.43.
66. The exchange rate between Canton and Hong Kong fell during the year from 148 to 139. the average being 142.79. As this section's share of sectional through receipts was based on a transaction rate of 150, we were placed in an advantageous position vis-a-vis the Chinese Section with regard to down sectional receipts.
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