CO129-573-14 Kowloon-Canton railway- provision of a renewals fund 7-6-1938 - 11-10-1938 — Page 32

3.

31

ENO

6.

arrears of contributions which should have been met but

were not met in earlier years, I should like to have

further information as to the proper rates of depreciation

to be allowed for, as the narrow experience of this small

Railway is insufficient to give reliable guidance.

I should be grateful, therefore, for

information as to what, in the view of your advisers,

are the proper rates to be allowed on the various classes

of rolling stock and what, if anything, should be provided

for depreciation of buildings, track and plant. I should

be grateful also for any suggestions as to the procedure

which ought to be followed in building up a fund which

is in arrear owing to the lack of adequate provision in

the past.

I have the honour to be,

Sir,

Your most obedient, humble servant,

[As. Kathcon

Governor.