A (3) 24
180. The accounts have been satisfactorily kept and regularly rendered.
131. Surprise Audit Surveys of the Cash Balances, etc., at Railway Headquarters and at the various stations were carried out and call for no comment. Stocks of stores held on charge by the Railway were subjected to test surveys by Audit, the result being satisfactory.
132. The net profit on the Operating Account of the Railway for the year was $128,613.38 as compared with $932,418.48 for the previous year.
133. As a result of the hostilities in China only local traffic was handled, through traffic being suspended throughout the year.
134. Suspense Account.
The Secretary of State, in his despatch No. 207 of 9th June, 1939, approved, subject to reconsideration when more settled conditions obtain, of the opening of a Suspense Account entitled "Kowloon-Canton Railway Suspense Account D-Workshops Suspense Account", with a maximum balance of $20,000, through which all Railway Workshop transactions would pass.
135. Unallocated Stores--Maximum stock of.
It is understood that the approved standard stock of the Railway Unallocated Stores has not been disturbed by the above arrangement and therefore remains at $175,000.
L. GENERAL.
136. Trade Loans.
It was mentioned in paragraph 100 of the previous Audit Report that the balance of the two outstanding Trade Loans, viz., $211,711.42 were cleared from the accounts by transferring them to the Trade Loan Reserve Account, but as Government's claim in respect of these loans was not relinquished they were recorded in a Statement (No. 15) submitted with the report.
137. During the year one Loan, No. 492, was liquidated by the sale of the mortgaged property as under:—
Amount of Loan $133,000.00 Proceeds of Sale $67,500.00 (credited to 1939 Revenue Head 9, Miscellaneous Receipts). Balance of Loan irrecoverable $65,500.00 Arrears of Interest. Amount due $45,344.98 Paid (credited to 1939 Revenue Head 9, Miscellaneous Receipts) $1,900.00 Balance irrecoverable $43,444.98*$65,500.00
*$43,444.98
$45,344.98
*Written off under authority of the Governor vide Secretary of State's Confidential despatch of 26th February, 1930.
A (3) 24
180. The accounts have been satisfactorily kept and regularly rendered.
131. Surprise Audit Surveys of the Cash Balances, etc., at Railway Head- quarters and at the various stations were carried out and call for no comment. Stocks of stores held on charge by the Railway were subjected to test surveys by Audit, the result being satisfactory.
132. The net profit on the Operating Account of the Railway for the year was $128,613.38 as compared with $932,418.48 for the previous year.
133. As a result of the hostilities in China only local traffic was handled, through traffic being suspended throughout the year.
134. Suspense Account.
The Secretary of State, in his despatch No. 207 of 9th June, 1939, approved, subject to reconsideration when more settled conditions obtain, of the opening of a Suspense Account entitled "Kowloon-Canton Railway Suspense Account D-Work- shops Suspense Account", with a maximum balance of $20,000, through which all Railway Workshop transactions would pass.
135. Unallocated Stores--Maximum stock of.
It is understood that the approved standard stock of the Railway Unallocated Stores has not been disturbed by the above arrangement and therefore remains at $175,000.
L. GENERAL.
136. Trade Loans.
It was mentioned in paragraph 100 of the previous Audit Report that the balance of the two outstanding Trade Loans, viz., $211,711.42 were cleared from the accounts by transferring them to the Trade Loan Reserve Account, but as Government's claim in respect of these loans was not relinquished they were recorded in a Statement (No. 15) submitted with the report.
137. During the year one Loan, No. 492, was liquidated by the sale of the mortgaged property as under :—
Amount of Loan
Proceeds of Sale
$133,000.00
$ 67,500.00
(credited to 1939 Revenue Head 9, Mis-
cellaneous Receipts).
Balance of Loan irrecoverable
Arrears of Interest.
Amount due
Paid (credited to 1939 Revenue Head 9, Mis-
cellaneous Receipts)
Balance irrecoverable
*$ 65,500.00
$133,000.00
$45,344.98
$
1,900.00 *$ 40,144.98
$ 45,344.98
*Written off under authority of the Governor ride Secretary of State's Confidential despatch of 26th February, 1930.
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