For
Prices
and
Further
THE HONGKONG' TELEGRAPH SATURDAY,
TO-DAY'S PERFORMANCE
TO-MORROW..
and for several years hence That's where Thornycroft Vehicles score------
-they can be relied upon to produce for many thousands of miles their initial high standard of reliability and economy.
Here are a few examples of
THORNYCROFT
•
commercial vehicles. The top and bottom pictures show the class of motor bus adopted by the Kowloon Motor Bus Com- pany, Ltd. The centre illustrations are of the "HANDY" 2-TONNER Normal or forward control.. Choice of 3 wheelbases. Body space up to 14 ft. 4 ins.
Particulars Ploase Apply to
Tractor chassis for 4-ton loads with 2-wheel attachments also available.
JOHN I. THORNYCROFT & CO., LTD.
SOUTH CHINA OFFICE
Pioneer Building, Nathan Road, Kowloon.
Telephone $6752.
TRUST A THORNYCROFT WITH YOUR TRANSPORT
OFFICIAL FINANCES
.
MEMORANDUM ON ESTIMATES
fa bis memorandum on the Govern. ment's financial position, tabled in conection with the estimates on Thursday, the Hon. Treasurer re- viewed the past and present years ne follows:
1934
The Revenue for the year amounted to $20,614,286 as against the originl estimate of $31,731.026 and the re- The vised estimate of $23,670,834. actual revenue for the year fell short of the estimate by $2,157,339 and of the revised estimate by $16,148,
The Import Duty on both Motor Spirit and Tobacco exceeded the approved estimate by $30,544 and $163,831 respectively. On the other hand the duty on Liquer and Lorally Manufactured Liquor showed de- erenses of $89,828 and $36,327.
The Oplum Monopoly which wan expected to yield $1,300,000 shewed the largest decrease and was short of the estimate by $844.932 due to a further reduction in sales. The next largest decrease was under Land Sales which were 8611,527 less than the estimate of $1,200,000, the demand for land having fallen off consider-
bly.
The continued trade depression is reaponsible for the decrease of $282,583 under Stamp Duties, while the temporary rebate on excess water billa accounts for the estimate under Water Excess Supply and Meter Rents being down by $116,303,,
Betting Duty was short of the estimate by $11,246 due to the reduc tion in the percentage payable on nari-matuel betting and to less bet Ling, Postages shewed a decrease of $111,026 due in part to a reduction in rates. Other Important items shew- ing decreases were Light Dues $103,- 162 on account of the higher ex- change, and Assessed Taxes (Rates) $6,771 attributed to more vacant tragments and reductions in rents,
The Increases include Estate Duty which exceeded the estimate by $77.717 on account. of two large estates. Railway (Auxiliary Opera- tions, Foreign laulage) $79,330 que to an increase in number of trains, and Leased Lands $74,751.
Expenditure
under-
The expenditure for the year amounted to $31,149,156 against an estimmte of $99,442,695, a decrease of $2,293,639. Exchange was based on rate the $119/34. but
Average throught the year was 1s./6d,
considerable conserpiently expenditure trok place on such items. as salaries, pensions, loan chargen and stores. The under-expenditure emoluments alone personal amounted to $1,742,652. Council approved of a supplementary budget jaerenning votes under the control of the Director of Public Works by $772,000.
KIFL
CCDCBOOODOOOUGO00000000000000000 excorded in of expend
Amateur Photographic
EXHIBITION
TOP FLOOR
GLOUCESTER HOTEL
SEPTEMBER 16-19
ADMISSION FREE.
In connection with the Exhibition, Surgeon Licut, Commdr. W. E. Loftus- Brigham, R.N., has kindly consented to give a talk on the entries at 5.30 p.m. on Tuesday next, Soptember 17, at the Gloucester Hotel.
Five heads expenditure were No. 18, Magistracy, Hongkong, by No. 19, Magistracy, Kowloon, by $1,139.
Those incrEMBER were de to changes in personnel,
TIN
No. 27 (0), Military Contribution, by $93.987,
The increase
due
to the estimated overpayment on account of 133 revenue assessable for military contribution being calculated at $1,311 hut the final farures for 1933 amounted to $380,350.
No. 28, Miscellaneous Services, by $432,384, of which $413,118 was due to depreciation of Sterling Funds dur to higher dollar sterling exchange.
No. 34, Public Works Extraor- dinary, by $102,216. The gross in- crense a sub-beads amounted to $1,052,196 offset by under-expenditure on other sub-hends of $859,980 re- sulting in the net incrense recorded above,
The final figures Were Revenue $29,574,286, Expenditure $31,149,156 Deficit $1,571,870, which deducted from the surplus brought forward on 1st January, 1931, gives a total ex- cess of Assets over Liabilities on 31st December, 1934, of $12,248,565.
The Inscribed Stock Loans of 1893 and 1906 amounting to £1,485,733 were redeemed on 15th October. The sinking fund for the 4 Conversion Loan raised in 1933 was established on 16th July and amounted at 31st December to £12,311. 2n, id.
In July, 1931, o 3145 Dollar Loan was raised to finance certain public works and to redeem a portion of the sterling Inscribed Stock. Bonds to the amount of $14,000,000 were issued at 39 producing $13,860,000,
1935
The Revenue for the year WILH estimated at $30,585,650, a decrease with the of $1.145,975 compared approved estimate of 1934. The re vised estimate for the year is now placed at $28,328,031 or $2,267,610 less than the approved estimate.
to
The total revenue for the half year ending BOLÍ June amounted $14,428,847. This in $863,078 less than one half of the estimate of $30,585,650 for the whole year.
The principal sources of revenue are shewn in the following tables:
Falimate Total dat 1954 Hell Your
„Import Duty: and Liquor 150,000 Turl Duty am Tobnero 2.700,000 Duly on rally Manu-
$ 387.100 1.299,074
494,235 410,000
264,184 406,000 203,1DA 300,001
353.30 650,000 201,019 0,300,000 3,190.763 1,000,00 $43.182 2,100,000 071,022
factured Bir
1,070.000
Port a Harbour Duess Furries
Fir ironCES
Oplum Munopoly
Ascend Tnx (Rate)
Falate Duty
Stainm
Dulles
Water Excess arut Moter
kend
1,000,000
7,618
Menge Fees (Wireless)
C10,000
024,288
| Postage
585,081
1,220,000 Koln Canton Raliway 1.092,000 Ptrict t:f Government
Properly
Land Baker
-730,630
1,693,000 770,078 1748H 600,000 It will he seen that the duty on Lubaceo has almost been maintained, but there may be further drop dur- Ing the second half of the year owing to the higher rate of exchange pre- valling. Import duty on liquor shows a large falling off and is disappoint-
SEPTEMBER 14, 1935.
PAIN and
HEADACHES
The
QUICKEST Way to BANISH THEM IS
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ASPRO'
DOES NOT HARM THE HEART
ing. The Opium Monopoly again does not come up to expectations and it would serm that this source of revenue is dwindling to nothing. Estate duty continues to hold its own but Land Sales have fallen away.
the Expenditure for originally estimated at $32,666,102 or $1,070,42 more than the estimate of Revenue. As the original estimates
·
year way
Distributors. DODWELI. & CO. LTD. Three Packings, 5'x. 10's. 27's
on nn
of
LH8
$28,328 034, a deficit of $152,000. The exchange were based $11/4d., uml as the average rate revised expenditure figures are based un a 2-dollar so that should its for the first six months of the year worked out at $12./0, it is sterling value decline the deficit of increase. evident that considerable savings will $162,960 will, of course, Lo effected. The revised figures for This estimated deficit therefore, will the excess of asscta over each head of revenue and each head reduce of expenditure are shewn in the draft liabilities of $12,248,766 on the 1st estimates for 1936. The totals are January, 1933, to $12,895,789 on the expenditure $28,481,000 and revenua 31st December, 1936.
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