ing Report on Progress With Peaceful Days According to statement issued on January 20 by tae Ministry of Railways, Une year 1929 bids fair} F|to be of the most prosperot the history of the Shang: ing Kailway yo far as financial possibilities are eoneezi By latest reports frum the way, the approximate cash balance at the end of this June, calculated fon the basis of the preceding year, ig in the neighbourhood of $1,098,000 and at the end of this year 135,009,000, assuming that the eam-Ings for the first period average $25,000 a day and for the later period $20,000, and that the saving on coal through reduction in price is about $300,000 for the whole year, Net Credit of $300,000
Out of the total cash balance of $6,009,000, $1,000,000 is ne for Capital expenditure covering Ube Jast four years, in accordance with the 124 Agreement which provided 0,000 year for such purpose, An amount of $1,247,000 should also be set aside for' meeting amortiza~ tion charges, After deducting another sum of $520,000 (taken from last year's total), as allowance for unpaid military' trafic, and making provision for capital faunas and amortization charges abovementioned, there should ina net cash balance of about $300,009.
The railway has the potentiality of making handsome earnings, 4 result of the rveovery of peaceful conditions throughout the regions through which it traverses, and the choice of Nanking as the site the Nationalist Government's Capital. From the earnings alone, new additional rolling stock may be purchased to meet the increasing volume of traffic, both passenger: and goods—the expanding traflice with the new Capital and the heavy goods traffic of the Tiontsin-Pukow Railway when it" begins operations.
Half of the wount of capital funds—$500,000—may be utilized for uncompleted works, urgent apitol works, already purchase may be devoted to the neq of passenger engines, coach under goods engines and waggons, costing in all a total of $1,500,000, the balance short to be made up from earnings *of the additiona! stock in two year, In short, the Ministry of Railways the ancial prompocts of wghal-Nanking Rail re excellent ami the figures given conservative and reasonable. The proposals for the acquisition of tional rolling. stock which allow wich needed extension are decidedly favourable to bondholders,
Text read from the printed page and cleaned; old type leaves the occasional error.