LOWE. BINGHAM & MATTHEWS, HONG KONG
11.
45
On 11th January, 1949, an agreement was made
with Messrs. Wing Wo Hing to take effect from 1st December,
1948, and this agreement was not varied until a new one
was made on 1st June, 1950. We are informed that the
terms of both these agreements were not submitted to pub-
lic tender but have been authorised.
Rice Controller
Mr. R. C. Lee acted as Rice Controller from May,
1946, to April, 1948, without receiving remuneration from
Government and no charge has been incorporated in these
accounts in respect of the services rendered by him. The
Director of Audit has also commented on this matter.
FUEL (Coal and Firewood) SECTION
Purchases - Coal and Firewood
During the year 1946/47 seven shipments of Coal
and three shipments of Firewood were received by the Sec-
tion but to the date of this report no charge has been re-
ceived for the cost, freight and insurance. An estimate
of the cost and freight of the shipments has been provided
for in these accounts (as amended).
JAPAN TRADE SECTION
The rate of USpl
**
HK$3.97515 has been used for
S.C.A.P. transactions prior to revaluation, and US$1
HK$5.71 for post revaluation transactions, except where
other special rates have applied. Besides the transac-
tions shown in these accounts the following items were,
under revised trade arrangements, transacted direct
through Banks on a Commission basis :-
Imports
Exports
1947/48
US$
US$
124,617
1948/49
US$ 14,282,652
US$ 16,104,676
1949/50
US$ 19,954,693
US$ 29,570,202