Military Expenditure is Charged to Company To Hide Actual Profit made by Sir Robert Craigie, British "strong tations" Ambassador to Japan, official circles inj Tokyo on December 16, declared the condition of the interest.
Company's Report To try and substantiate this claim the Central China Railway Company, subsidiary. of the semi-official Japanese Central China Development Ca., in its half-yearly report, May 1 to October 31, 1999, shows a loss of $2,368,043.93. A careful survey of the above accounts reveals that the alleged loss for the period under review is due to the insertion in the accounts, among expenditures, an item for "railway protection," of $3,104,331.89. This sum is incidentally nearly three quarters of a million dollars more than the so-called loss.
The railway has thus been charged with part of the Japanese military expenditure around Shanghai, to turn what is actually a substantial net profit of roughly $750,000 into a big loss. Other items on the expenditure side also seem to have been over-debited, and really the net profit should be still greater.
The total revenue of the company for the half-; last year, was $5,416,027.58 is from freight receipts and $4,743,758.87 from. fares. The company carried during the term under review 1,571,682 of commercial freight and 2,794,694 passengers, besides Japanese military supplies and troops,
Text read from the printed page and cleaned; old type leaves the occasional error.