result in 1933 is as follows:
Gross Railway Receipts
Working expenses
886,381
Interest and Sinking
Fund payments on 1906
Loan (as above)
996,980
$1,630,611
J
3
ml
how remind
IRA
27.7.34
Total expenditure 1,883,361
1,883,361
Profit (net) on Railway = Nil.
The results for several years past have been similar.
Item 7 of the schedule of the 1934 Loan Ordinance
(which we have not yet received) includes the sum of
$3,400,000 for the purpose of redeeming the 1887,1893
(and 1894) and 1906 loans totalling £1,485,733 - or
rather for the purpose of augmenting other funds
available to the extent necessary to enable the sum
of £1,485,733 to be repaid on the 15th October, 1934.
The Jar Office point is that since the revenue required
for the service of the 1934 loan of $25,000,000 is to
be exempt from assessment for the purpose of calculating
(Estimated at $1.072.2.6 in 1934) Military Contribution, whereas the revenue required
A
puoliausiṛ for the service of the 1887, 1893 and 1906
loans aimted at.
مه
exempt,
a
246 in 1934) was not so per se
considhalle Army Funds standto lose annually sums result.
annually
the
Less
).
The effect of the arrangement referred to
above, whereby the cost of the Railway for the purpose
of calculating the net profits (if any) on its working
includes the amount required for the service of the
1906 loan of £1,143,933 is that in practice a fraction
of that amount equal to the difference between the gross
receipts
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