THE PEPING-LIAO NING RAILWAY.

Through the courtesy of Mr. L. A. L. Moore, of Keri Keri (formerly Honorary Agent of the New Zealand Government in Tientsin) we have been able to peruse the Annual Report for 1935 of the Peping-Liao Ning Railway—originally the Peking-Mukden line. This line is a vital feature of the Chinese National Railways. One branch reaches as far north as Tung Liao Hsien, on the Liao Ho river, about 60 miles from the Mongolian border. Another branch commences at Mukden and, after connecting with the former at Ta hu Shan, continues south-eastward towards the coast which it parallels through much of the Li Aoning and Ho Pei provinces to Tientsin, where it turns north-east and runs to Peping and Tunglisien East. There are two other branches in the northern territory, one running to the mouth of the Liao Ho in the Gulf of Liao Tung and the other crossing into the Jehol province. The year's operations show operating earnings of 25 ½ million dollars, expenses 15 million dollars, leaving an operating surplus of 10 ½ million dollars. The ratio of operating expenses to operating revenue is distinctly low, being only 58.35 per cent.

About 30 per cent. of the traffic revenue is derived from passengers, the balance coming from freight and miscellaneous sources.

Some interesting items of expenditure are: Medical, 189,000 dols.; police, 591,000 dols., and educational, 203,000 dols. Beside these figures, the charges for legal expenses (6,000 dols.) and compensation (7,000 dols.) appear small, especially as the latter includes compensation for injury to persons, loss and damage, and all other compensation.