A 3
In this connection however it will be well to note that the result was attained through more or less non-recurrent windfalls as follows:--
Stores Credit, $288,000
Imperial Government Contribution, Probate (Mody's Estate), 134,000
138,000
and perhaps Land Sales' Excess, 170,000
Total, $730,000
The following Table shows the totals of Revenue and Expenditure for the last five years :-
Revenue Expenditure Surplus Deficit 1907 $6,602,280 $5,757,203 $280,128 1908 $6,104,207 $6,573,341* $53,756 1909 $6,822,967 $6,542,839 $420,054 1910 $6,960,869 $6,907,113 $845,077 1911 $7,497,231 $7,077,177 $469,134The surplus of $420,054 added to the balance at end of 1910, viz., $1,406,925, gives a total balance at credit on 31st December, 1911, of $1,826,979.
The total Assets on that date were $5,806,639 and the Liabilities $3,979,660.
PUBLIC DEBT.
The Inscribed Stock Loans of 1893 and 1906 amount to £1,485,732, and the contributions to the Sinking Fund with accrued interest on investments came to £118,267 6s. 6d. being an increase of £19,375 over the figure at end of previous year. The market value of the Fund's investments on 30th December was £117,016.
Of the £1,100,000 Loan to the Viceroy of Wuchang £660,000 was repaid by October last, which amount has been advanced to Railway Construction Account.
The total Expenditure on this last account now stands at $12,021,503, funds for which have been obtained by advance of the £660,000 referred to, and by advances from the Crown Agents to the sum of £339,118, the balance being advanced from General Funds.
It seems probable that, even when credits on account of stores are taken into account, the balance of the Wuchang Loan when advanced to Construction Account will be insufficient to meet the Crown Agents' advances together with the advance from General Account so that a part, now estimated at $180,000, will have to be provided for either by an addition to the General Loan or by charging it to Extraordinary Expenditure of the Colony.
The Special Work of constructing a Harbour of Refuge at Mongkoktsui is financed by the proceeds of the Special Light Dues and by General Funds of the Colony in equal proportions.
* Disbursements for Railway Construction omitted.