The work done for the Chinese Section of the Canton Hankow Railway by the Central Mechanical Works amounted to only $1,252.22, which is only 1.15% of the work done for the Chinese Section in 1948/49 when through running was on a full scale.
43. Although the operating expenses reached their highest level, the profit on operating is 44.79% higher than in the previous financial year.
44. The annual repayment of $776,000 as refund of this department's allocation of the Rehabilitation Loan, has been included in the accounts. A sum of $19,400,000 was allocated from the Loan Fund to this depart- ment and of this sum a total of $11,405,840.88 was expended by the end of the year, but outstanding orders with the Crown Agents approximate $7,988,762.00.
45. Under Statement 1-Capital Expenditure, the decrease of the sum of $29,449.60 under Telegraphs and Telephones, represents the value of installations taken over by the Hong Kong Telephone Co. Ltd. from the Hong Kong Government, for which no compensation was received by the Kowloon Canton Railway. B.1.3. Permanent Government Investments under Capital Liabilities in the General Balance Sheet has been reduced by a like amount.
46. As shown in the balance sheet the surplus for the year is $8,989,285.12 which includes the sum of $3,989,418.04 brought forward as surplus from the previous year.
MECHANICAL WORKSHOPS.
47. Locomotives. There has been one austerity 2-8-0 locomotive No. 23 given heavy repairs which included a change of boiler.
There have been four austerity 2-8-0 locomotives Nos. 21, 27, 29 and 32 given medium repairs which included the usual work of having wheel tyres turned, rod bushings and piston and valve rings renewed, some driving brasses re-metalled, a certain number of tubes renewed, etc. Among these four 2-8-0 locomotives, three of them Nos. 27, 29 and 32 have had Hulson rocking grates installed to replace the fixed grates which are useless with the high ash content of the coal in the Far East. There are now seven of the total of twelve austerity 2-8-0 locomotives equipped with rocking grates for coal burning and five remain for oil burning.
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