L 4A
LOWE. BINGHAM & MATTHEWS, HONG KONG
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Although full liability of Supplies Branch to
the Custodian per his records was not specifically set
up in Supplies Branch records it seems to us that such
was intended to be taken care of in the aforementioned
Realisation Account by a charge of $5,500,000 (included
in the debit of $29,500,000 Payment to Treasury for
account of H.M. Government, including provision for lia-
bilities under Financial Settlement). The corresponding
credit was to Treasury Suspense Account for the account
of Deposits Financial Settlement Items (see our afore-
mentioned Modified Report, Schedule I, Balance Sheet as
at 31st March, 1950, "Treasury Suspense Account, viz.
Provision made for liability under over-all financial
settlement with H.M. Government $21,750,000′′).
This notional charge of $5,500,000 was passed
in accordance with instructions contained in Memo. Ref.
T.C.394/50 of 3rd November, 1950, from Colonial Secre-
tariat to Director of Commerce & Industry (see paragraph
(2)a, Net realisation of goods received before 30th
April, 1946 – $5,500,000).
Included in the figure of $475,797.50 due by
Fuel (Coal and Firewood) Section per the Custodian's
records at 31st March, 1951, is an amount of $134,547.28
for Oil stocks requisitioned by the Department for the
period September, 1945, to May, 1946. We refer to our
aforementioned Modified Report at page 2 under the head
011 (Fuel) Cr. $148,838.93 where reference was made to
the payment to Treasury by Supplies Branch of $134,547.28,
such payment being credited by Treasury to "Deposits Ac-
count - Abandoned Property" on the instructions of the
Deputy Financial Secretary.
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Similarly, a payment of $10,654.93 was made
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