The amount of the consolidated loan stands at £1,485,732. Against this there is at credit of the Sinking Fund a sum of £258,162. The Local Loan under Ordinance No. 12 of 1916 amounts to $3,000,000 and there is a sum of $200,000 at credit of Sinking Fund.
Under Ordinance No. 18 of 1917 a tax of 7% on Assessments was imposed to provide an Annual Contribution to the Imperial Government for purposes of the war. Collection thereunder began on the 1st July and the sum collected for the half year was $504,984.
For the year commencing 1st July, 1917, the existing valuation was adopted, the difference in rateable value being the result of interim-assessments and appeals.
Increases:-
The City of Victoria, $79,170 or 0.67%.
The Hill District, $2,470 or 0.76%.
Shaukiwan, Saiwanho, and Quarry Bay, $8,007 or 2.07%.
Hongkong Villages, $6,325 or 3.08%.
Yaumati, $570 or 0.16%.
Mongkoktsui, $12,895 or 6.10%.
Kowloon Point, $13,300 or 2.14%.
New Kowloon, $4,855 or 4.57%.
Kowloon Villages, $535 or 0.57%.
Decrease:-
Hung Hom and Hok Un, $160 or 0.05%.
The rateable value of the whole Colony amounted to $14,410,153 being an increase of $127,967 or 0.89%.
There were 22 appeals against the adopted assessments of 57 tenements, and reductions aggregating $11,320 in rateable value were made by order of the Court.
For the period 1908-1917 the assessment of the whole Colony has risen from $10,816,753 to $14,410,153, an increase in rateable value of 33.22%.
The circulation on the 31st December of notes of the three Banks having authorised issues was as follows:-
Hongkong & Shanghai Bank, $21,433,096
Chartered Bank of India, Australia, & China, $6,577,429
Mercantile Bank of India, $1,149,504
$29,160,029
The currency of the Colony consists, in addition to the notes of these Banks, of British, Hongkong, and Mexican Dollars and of subsidiary coin, which continued at par throughout the year.
The total issue of subsidiary coins, less those demonetized, now amounts to $21,264,370 nominal value, and they were up to the year 1905 readily absorbed at par, large quantities being taken by the neighbouring provinces of China. During 1916 ten cent pieces of the face value of $5,028,000 were shipped to England for purposes of demonetization. The discount which prevailed between 1905 and 1916 may be attributed to the immense quantity of similar coin which
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The amount of the consolidated loan stands at £1,485,732. Against this there is at credit of the Sinking Fund a sum of £258,162. The Local Loan under Ordinance No. 12 of 1916 amounts to $3,000,000 and there is a sum of $200,000 at credit of Sinking Fund.
Under Ordinance No. 18 of 1917 a tax of 7% on Assessments was imposed to provide an Annual Contribution to the Imperial Government for purposes of the war. Collection thereunder began on the 1st July and the sum collected for the half year was $504,984.
For the year commencing 1st July, 1917, the existing valuation was adopted, the difference in rateable value being the result of interim-assessments and appeals.
Increases :-
The City of Victoria, $79,170 or 067%.
The Hill District, $2,470 or 0.76%.
Shaukiwan, Saiwanho, and Quarry Bay, $8,007 or 2′07%. Hongkong Villages, $6,325 or 3'08%.
Yaumati, $570 or 0.16%.
Mongkoktsui, $12,895 or 6-10%. Kowloon Point, $13,300 or 2·14%.
New Kowloon, $4,855 or 4:57%. Kowloon Villages, $535 or 0.57%.
Decrease:-
Hung Hom and Hok Un, $160 or 0·05%.
The rateable value of the whole Colony amounted to $14,410,153 being an increase of $127,967 or 089%.
There were 22 appeals against the adopted assessments of 57 tenements, and reductions aggregating $11,320 in rateable value were made by order of the Court.
For the period 1908-1917 the assessinent of the whole Colony has risen from $10,816,753 to $14,410,153, an increase in rateable value of 33·22%.
The circulation on the 31st December of notes of the three Banks having authorised issues was as follows:-
Hongkong & Shanghai Bank,
Chartered Bank of India, Australia, & China, Mercantile Bank of India,
$21,433,096
6,577,429
1,149,504
$29,160,029
The currency of the Colony consists, in addition to the notes of these Banks, of British, Hongkong, and Mexican Dollars and of subsidiary coin, which continued at par throughout the year.
The total issue of subsidiary coins, less those demonetized, now amounts to $21,264,370 nominal value, and they were up to the year 1905 readily absorbed at par, large quantities being taken by the neighbouring provinces of China. During 1916 ten cent pieces of the face value of $5,028,000 were shipped to England for purposes of demonetization. The discount which prevailed between 1905 and 1916 may be attributed to the immense quantity of similar coin which
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