CO129-550-1 Estimates 1935 14-9-1934 - 15-9-1934 — Page 51

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A (1) 19

―

Kowloon Canton Railway.

A (1) 18

-

A saving of $27,178 on locomotive coal resulted from the lower contract price. $99,200 was voted for two additional Second Class Coaches but as the under frames did not arrive from England only $13,090 was spent.

Volunteer Defence Corps.

Four Vicker Guns and spare parts showed a decrease of $5,873 owing to higher exchange. For the same reason Anti gas equipment cost $2,112 less than anticipated.

Charitable Services.

Aberdeen Industrial School was $8,150 Expenditure on less than estimated during the year; $5,000 on General Charities Organisation was not required owing to Tsan Yuk Maternity Hospital being taken over by Government and $14,800 of the $20,000 estimated for the Mercantile Marine Assistance Fund was not drawn on.

Charge on Account of Public Debt.

Savings of $154,996 and $44,098 for interest and sinking fund respectively on the 31% Sterling Inscribed Stock were effected owing to the higher exchange.

Pensions.

The under-expenditure on this vote of $341,883 can be attributed almost entirely to the higher sterling value of the

dollar.

Public Works Department.

$10,679 less than estimated were required for Conveyance Allowances. Higher Exchange effected a saving of $5,933 on Repairs, Stores and Current. Orders for Additional Trans- mitting and additional Receiving Equipment were held over pending decision and accounted for a total under-expenditure of $121,419 against $243,000 provided.

Public Works Recurrent.

Less maintenance work caused a saving of $10,055 on Buildings and $6,222 on Drainage. $52,350 less than anticipated was required for the maintenance of City and Hill District Water Works mainly due to the lower contract rate for coal. Upkeep and Repairs of Water Meters were $12,894 and $7,228 lower than estimated in Hong Kong and Kowloon respectively. The vote for Maintenance and Improvement of Road and Bridges was unexpended by $6,110,

11. Statement of Assets and Liabilities on the 31st

December, 1934.

LIABILITIES.

DEPOSITS :-

Contractors and

Officers Deposits

C.

ASSETS.

Locomotives for Chinese Section Kowloon

Canton

ADVANCES :-

Suitors Fund

Insurance Compan-

ies

521,085.50

43,638.29

Purchase of three

1,762,946,51

Miscellaneous De-

posits.......

House Service Account

Railway.

Miscellaneous

Building Loans

Imprest Account....

2,176,481.29 Subsidiary Coin

28,038.16

1,073,017.94

C.

3

147,468.26 237,642.32

738,250,94

9,476.27

1,261,981.10

23,614.27

Trade Loan Out-

standing Unallocated Stores,

553,500.50

Government House &

(P.W.D.)........

573,052.47

City Development | 1,218,741.28 Unallocated Stores,

(Railway).......

170,372.02

Suspense Account.

Exchange Adjustment

Trade Loan Reserve...

Praya East Reclama-

tion

975.589.24 Dollar Loan Account...

217,067.30

Cash Balance :—

112,175.27

* Joint

Colonial

Fund......

2,334,087.55 15,762.01

2,913,103.46

2,092.09

Fixed Deposits:-

Total Liabilities... 7,937,419.84

Excess of Assets over

Liabilities

General

$8,800,000.00

Insurance

[2,248,755.24

Coal Account

Total......$20,186,175.08

Treasurer... Crown Agents..

Companies 1,762,946.51

Miscellaneous 451,464.87

*Joint Colonial Fund £242,000.0.0.

11,014,410.89

Total .$20,186,175.08

12. The excess of Assets over Liabilities on the 1st January 1934 was $13,823,625. On the 31st December 1934 this sum had decreased to $12,248,755 the difference of $1,574,870 is the excess of Expenditure over Revenue as recorded in paragraph 1 of this Report.

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