$ 5
KOWLOON-CANTON RAILWAY. (British Section)
ANNUAL REPORT FOR 1936.
I. GENERAL SURVEY.
1. The estimates for the year were framed in expectation of higher traffic receipts and lower operating expenditure. This optimism was justified, as the results secured show that both traffic receipts and net earnings would have exceeded the amount anticipated but for the sudden stoppage of one of the most remunerative sources of revenue after August. Despite this severe setback, the balance on the operating account was only $7,382.16 below the estimate, and the "operating ratio" improved from 64.53% to 63.49%.
2. Receipts and net operating revenue were $1,245,469.16 and $454,733.00 respectively, as against $1,411,674.73 and $500,654.48 the previous year. These results may be regarded with satisfaction, in view of the fact that more than $245,000 has been lost from two sources outside the Administration's control. The first is foreign haulage, where receipts slumped from $289,641.32 to $132,482.78, due to the handing over of the three express locomotives to the Chinese Section on May 1st. The second is Shum Chun Casino traffic which ceased on September 1st when the Casino was closed.
3. The powerful effect exerted on revenue by the Shum Chun Casino is displayed graphically in the Chart on page 3. The shortfall from this source during the last four months of the year is estimated at $88,000.
4. Operating expenditure was $790,736.16, compared with $911,020.25 the previous year, and $860,884.84 provided in the Estimates. This year's figure is the lowest obtained since 1929. It was rendered possible, notwithstanding the low sterling exchange value of the dollar, by a particularly favourable price for coal and by economy in working.
5. The negotiations with the River Steamboat Companies, mentioned in paragraph 8 of last year's report, reached fruition on February 7th, when second and third class fares between Hong Kong and Canton both by rail and water were stabilised at reasonable levels for a trial period of three months. The agreed basic rates for third class passengers were 70 cents by the larger boats and $1 by rail, second class fares being double these amounts.
- $ 5
KOWLOON-CANTON RAILWAY. (British Section)
ANNUAL REPORT FOR 1936.
I. GENERAL SURVEY.
1. The estimates for the year were framed in expectation of higher traffic receipts and lower operating expenditure. This optimism was justified, as the results secured show that both traffic receipts and net earnings would have exceeded the amount anticipated but for the sudden stoppage of one of the most remunerative sources of revenue after August. Despite this severe setback, the balance on the operating account was only $7,382.16 below the estimate, and the "operating ratio" improved from 64.53% to 63.49%.
>
2. Receipts and net operating revenue were $1,245,469.16 and $454,733.00 respectively, as against $1,411,674.73 and $500,654.48 the previous year. These results may be regarded with satisfaction, in view of the fact that more than $245,000 has been lost from two sources outside the Administration's control. The first is foreign haulage, where receipts slumped from $289,641.32 to $132,482.78, due to the handing over of the three express locomotives to the Chinese Section on May 1st. The second is Shum Chun Casino traffic which ceased on September 1st when the Casino was closed.
3. The powerful effect exerted on revenue by the Shum Chun Casino is displayed graphically in the Chart on page 3. The shortfall from this source during the last four months of the year is estimated at $88,000.
4. Operating expenditure was $790,736.16, compared with $911,020.25 the previous year, and $860,884.84 provided in the Estimates. This year's figure is the lowest obtained since 1929. It was rendered possible, notwithstanding the low sterling exchange value of the dollar, by a particularly favourable price for coal and by economy in working.
5. The negotiations with the River Steamboat Companies, mentioned in paragraph 8 of last year's report, reached fruition on February 7th, when second and third class fares between Hong Kong and Canton both by rail and water were stabilised at reasonable levels for a trial period of three months. The agreed basic rates for third class passengers were 70 cents by the larger boats and $1 by rail, second class fares being double these amounts.
No comments yet.
Private notes are available after approval.