on private account $540,000, miscellaneous contributions $704,000, rebates $200,000, sand sales $1,000,000 and surplus and condemned stores $400,000. The estimate for 1955/56 is $6,098,000 less than the revised figure for the current year. This is due mainly to the fact that a number of contributions were received during 1954/55 for various specific purposes, including amounts totalling $4,057,100 towards the cost of rehousing fire victims and $3,518,200 towards the cost of various buildings, etc. Contributions towards buildings are estimated at $562,000 for the forthcoming year and include $270,000 from the Jockey Club in respect of the new Tsan Yuk Hospital, $268,000 for a new clinic at Shek Kip Mei, and a balance of $24,000 due from the Imperial War Graves Commission in respect of the Sai Wan Military Cemetery. The only other major changes as compared with the revised figures for 1954/55 are decreases of $298,000 for Custodian of Property fees and $320,000 for works executed on private account, and increases of $219,000 for school fees, $480,000 for Widows and Orphans pension contributions, $200,000 for quarry products and $500,000 for sand sales.
HEAD 6 - WATER REVENUE
8,
Estimate 1955/56
Revised estimate 1954/55
Approved estimate 1954/55
Actual revenue 1953/54
$8,107,000
7,207,000
8,012,000
8,853,250
Water revenue is expected to fall short of the approved estimate this year by about $800,000 due to restriction of supply. The estimate for 1955/56 has been framed on the as- sumption that rainfall will be normal.
HEAD 7 POST OFFICE
9.
Estimate 1955/56
Revised estimate 1954/55
Approved estimate 1954/55
Actual revenue 1953/54
$22,149,000
21,149,000
18,127,000
19,946,543
The revised estimate of Post Office revenue for the current year is more than $3,000,000 above the approved estimate and $1,200,000 more than the actual receipts in 1953/54. This increase reflects the rising volume of postal business, particularly of air mail traffic, and the increasing use of the air-freight service for parcels. On the assumption that the present upward trend will continue, the estimate for postage in 1955/56 has been increased by $1,000,000.
HEAD 8
KOWLOON-CANTON RAILWAY
10.
Estimate 1955/56
Revised estimate 1954/55
Approved estimate 1954/55
Actual revenue 1953/54
$4,575,000
4,575,000
5,926,000
5,369,489
The shortfall of $1,350,000 in the Railway revenue indicated by the revised estimate as compared with the approved estimate for the current year includes approximately $900,000 in respect of goods traffic and $450,000 in respect of passenger traffic, the original estimate having proved unduly optimistic. It is thought prudent to reduce the estimate for next year to the levels indicated by the revised estimates for the current year.
11.
HEAD 9 - REVENUE FROM LANDS, RENTS, ETC.
Estimate 1955/56
$25,735,000
Revised estimate 1954/55
22,092,000
19,139,000
22,798,707
Approved estimate 1954/55
Actual revenue 1953/54
It is now estimated that revenue from lands, rents etc., for the current year will exceed the estimate by nearly $3,000,000, the principal items responsible being interest, ap- proximately $1,200,000, resettlement tenancies $873,000, markets, $450,000, and lands not leased (permits for encroachments, etc.,) $225,000.