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(b). Export.
17
The cost of producing is the same but it is sold at $3.00 per tael.
.. Profit per annum on export - $132,000 (3.00
6.
Total profit ≈ 8804,400.
192)
( 100
135)
: $211,500.
The expenses of a preventive staff in Macao should not
be great. 810,000 should easily cover it.
7. The capital of the Farm would be about £250,000. On this
15% could be expected as ordinary profit i.e. £37,500. The cal-
-culated net profits amount to 8794,400. This would leave $756,900,
but no allowance has been made for risks. Deduct say 40% for risk
and the fee left to the Government would be in round figure
$450,000.
Note:-
(Sd.) R. 0. Hutchison,
S., I. E.
23.10.12.
According to the Hongkong Farmer expenses might come to
$12,000 a month. (I believe this figure to be much too great in
view of the small danger of smuggling from China). The capital he
considers $150,000 sufficient. The margin for risk ought to be
greater owing to the fear of a rise in the price of raw opium.
2. On these suppositions the balance would work out:-
Total Profit.... Deduct:- Expenses.
Interest on capital
at 15%
.8804,400 .8144,000
capital) 22,500
Net Profit....
.8637,900.
Making an allowance for risk of 50% the amount that could be paid
to the Government would be $318,950.
3.
The Farmer says he thinks he might get it for less.
(Sd.) R. 0. Hutchison,
S., I. and E.
13.11.12.