A (1) 21
ADVANCES.
16. Purchase of three locomotives for the Chinese Section Kowloon-Canton Railway.
The Chinese Section commenced paying off this advance in July, 1932, at the rate of $10,000 per month and the original amount outstanding has been reduced from $447,468.26 by $300,000 to $147,468.26.
17. During the year the Unallocated Stores varied as under
Balance at 31st December
Public Works Department Kowloon-Canton Railway
1933
1934
$486,713
$573,052
187,917
170,372
$674,630
$743,424
TRADE LOAN ACCOUNT.
18. During the year the number of outstanding loans was reduced by one from seven to six.
Instalments on account of Capital outstanding were obtained in respect of two other loans. The total reduction in Capital outstanding was $21,000, i.e., from $574,500.50 to $553,500.50. The total Capital now written off amounts to $136,263.30.
Efforts to procure redemption and, on one or two bad loans, a sale came to nothing. The Reserve account increased steadily and now amounts to $1,073,017.94 which exceeds the Capital outstanding by $519,517.44.
The following table shows the financial position of this account as at 31st December, 1934:-
Loans Issued since 16th November, 1925, on
approved securities
Less Redemptions effected during the years
$15,633,582.97
1926
1927
1928
1929
1930
1931
1932
1933
1934
$2,604,930.00
4,845,879.76
3,403,560.02
1,356,536.86
1,280,842.65
832,241.62
451,828.26
147,000.00
21,000.00
14,943,819.17
689,763.80
Less amount written off as irrecoverable....
Total of Loans outstanding on 31st December,
136,263.30
1934
$553,500.50
58
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