28. OPERATING ACCOUNT. As recorded earlier in the report, total revenue exceeded expenditure for the year by ap- proximately $1,360,000 which is an increase of over five lakhs on the previous year. This increase, in view of the various trade restrictions may be regarded as a considerable achieve- ment. Operating expenditure for the year was almost equal to that for 1951/52 as although running expenses were up, due to the fluctuating prices in coal and fuel oil, it proved possible to reduce expenses under other items.
Owing to large
29. PROFIT AND LOSS ACCOUNT. Government loans interest payable by the Railway is high, and after making a provision of $500,000 for Depreciation Reserves, a nett loss is recorded for the year of $155,553.59. But for the fact that the sale of Capital assets and surplus stores realized $609,257.99 an even greater loss would have been recorded. As the sum of five million is being transferred from the Surplus Appropriation Account to amortize Special Expenditure Loans incurred since 1939, interest payable next year will be corres- pondingly less.
30. RAILWAY UNALLOCATED STORES ACCOUNT. The dividing of the Unallocated Stores physical and financial records, of which the latter are now under the direct supervi- sion of the Senior Accountant, produced tangible results. The Unallocated Stores tabular summary has, for the first time since the war, been balanced without having to declare any unaccount- able difference.
MECHANICAL WORKSHOPS
31. LOCOMOTIVES. Austerity 2-8-0 locomotives Nos. 27, 29 and 32 were given a general overhaul. These overhauls included the addition of an adjustable type of axle box guides and the alteration of valve pistons from the multi-ring type to the two-ring type. The advantage of the adjustable guides was mentioned in the previous Annual Report. Of the twelve 2-8-0 locomotives, ten of them are now equipped with adjustable guides; only Nos. 22 and 24 are without them. Experience has shown that the multi-ring type valve pistons are very difficult
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