at $9,049,522 were $12,020 lower than in 1961-62. Goods Traffic Earn- ings were up by $115,588 while revenue from Passenger Traffic dropped by $127,608. More passengers were carried than in 1961-62 and a greater mileage covered; the reduction resulted almost entirely from the increasing popularity of season tickets, monthly tickets and scholar tickets.
31. Nett Profit, at $1,092,263 was $204,843 higher than in 1960-61, the main variations in comparison with the previous year being a reduction of $143,295 in Interest Charges; an increase of $75,764 in Rents and Incidental Revenue and a charge of $644,362 incurred during 1961-62 in respect of the reprovisioning of staff quarters.
32. During the year, three new diesel electric locomotives were acquired at a capital cost of $3,954,643.
33. On completion of the review of the accounting system and the reassessment of the financial position of the Railway, which was com- menced in 1960-61, an accumulated deficit of $1,470,200 was disclosed as at 31st March, 1960. Operations since that date, have eliminated this deficit and at 31st March, 1962, the accumulated surplus stood at $509,483. This apparent recovery gives no grounds for complacency, however, as the intensification of services, planned to commence next year, will cause a sharp increase in operating costs which may necessitate a revision of the present fare structure.
MECHANICAL WORKSHOPS
34. Locomotives. All locomotives functioned well during the year under review. With the arrival of the three new 1950/1800 H.P. diesel electric locomotives on 26th August, 1961, the railway has completed the modernization programme of changing from steam to diesel-electric traction.
35. During the year twenty nine 5,000 mile inspections, twenty 10,000 mile inspections, five 30,000 mile inspections and two 240,000 mile inspections were performed on the eight diesel-electric locomotives. The wheels of locomotives Nos. 53, 54 and 55 were renewed. Locomo- tive No. 53 was fitted with new cylinder liners and the old liners were rebored for fitting into another locomotive with oversized pistons and rings.
36. The availability of the diesel electric locomotives for the year was 85.67% which is 1.86% higher than the previous year. Were it not due to the change of wheels for 3 locomotives and the two 240,000 mile
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