English Translation

On the liabilities side, the company's equity is set as a difference between total assets and liabilities with the amount of K 10 787 840 903.80. Of the bonds in total K 3 579 125 840.20, hypo-thecar loans from the nationalised local railways K 151 756 063.40, up to 31. K 2 917 350 000,- and on bonds issued by the Protectorate to cover capital expenditure in 1941 K 510 019 781.80. Other short-term liabilities are shown as liabilities arising from the settlement of transport revenue in K 349 460 664.20, debts to social security institutions with K 6 054 791.50 and other short-run liabilities with K 581 827 941.75; of the last amount, the debt arising from current accounts with the financial administration K 21 575 218.10. The foreign cash values (Vadien, deposits, liability remissions and found foreign cash) amount to K 64 805 642,35. The transitional liabilities limiting the economic result of the financial year are based on K 2 107 943.45. * The financial year 1941 is of particular importance in the history of the Böhmisch-Mährische Bahnen in that after a longer series of years of loss it was again possible for the first time to generate a surplus in the business accounts and to balance the accounts. Although this economic success has been favoured by the exceptional time-frames, in particular by the strong use of railways, while at the same time limiting competition, it is nevertheless based on a financial recovery of the entire company, which provides a guarantee for further upward development in the future. The Böhmisch-Mährischen Bahnen will strive to meet the high demands that must be made to them, especially during the war period, at all times. The members of the team, who contributed to this goal in the past financial year through restless commitment, deserve special thanks and full recognition of the administration. Prague, 12 October 1943. Minister of Transport and Technology and General Director of Railways: Dr.Kamenický