As you are aware, the body work for our buses was ordered duly. arrived in parts in Shanghai. The work of lascembling. these parts together was, immediately pot in hand by/ four own. workmen, and you wil Jagree that our completed bodies of the most favourably with English and American products, Some delay was experienced in completing the painting to our satisfaction and it was not until JOctober 9 that six buses were put into service on Route No. 9.
The number of motor buses in operation from this date to Decem-31 was—six during three weeks in October; six during November and an average of 15 during December. In spite of the fact that the buses were in operation for such a short period during the year under review, you will note from the statement of accounts that it has been possible to write loft preliminary expenses Tls. 4,868,- 34 and a proportion of development. expenses amounting to Tls. 8,319.- also he noted that Ti bean placed to re-against depreciation of vehicles, and in the operating ¢xpenses a further sum of; Ts. 565,81 based on mileage has been included and placed in reserve for the renewal of tyres, Number of Passengers The number of passengers carried during the period of operation from October to December, 124, was as follows
Text read from the printed page and cleaned; old type leaves the occasional error.