The amount of the consolidated loan stands at £1,485,733. Against this there is at credit of the Sinking Fund a sum of £467,442. The Local Loan under Ordinance No. 12 of 1916 amounts to $3,000,000 and there are the sums of $1,444,169 and £103,453 at credit of the Sinking Fund.
A new valuation for Assessment was made for the year commencing 1st July, 1924, resulting as follows:-
Increases :-
The City of Victoria $387,772 The Hill District 47,610 Shaukiwan, Saiwanho and Quarry Bay 20,110 Hongkong Villages 74,411 Kowloon Point 116,380 Yaumati 223,615 Mongkoktsui 30,655 Hunghom and Hok Un 40,540 Kowloon Villages 3,344 New Territories 143,814The rateable value of the whole Colony amounted to $22,147,951 having increased by $1,088,251.
During the period 1915-1924 the assessment of the whole Colony has risen from $14,287,285 to $22,147,951, an increase in rateable value of $7,860,666.
The circulation on the 31st December of notes of the three Banks having authorised issues was as follows:-
Hongkong & Shanghai Banking Corporation $49,603,461 Chartered Bank of India, Australia, & China 11,611,486 Mercantile Bank of India, Limited 1,296,455 $62,511,402The 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 $17,864,370 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 Calcutta for purposes of demonetization. The discount which prevailed between 1905 and 1916 may be attributed to the immense quantity of similar coin which was minted at Canton as well as to the amount of Hongkong coin minted largely in excess of the needs of the Colony.
5
The amount of the consolidated loan stands at £1,485,733. Against this there is at credit of the Sinking Fund a sum of £467,442. The Local Loan under Ordinance No. 12 of 1916 amounts to $3,000,000 and there are the sums of $1,444,169 and £103,453 at credit of the Sinking Fund.
A new valuation for Assessment was made for the year com- mencing 1st July, 1924, resulting as follows:-
Increases :-
The City of Victoria
$387,772
The Hill District
47,610
Shaukiwan, Saiwanho and Quarry Bay
20,110
Hongkong Villages
74,411
Kowloon Point
116,380
Yaumati
223,615
Mongkoktsui
30,655
Hunghom and Hok Un
40,540
Kowloon Villages
3,344
New Territories
143,814
The rateable value of the whole Colony amounted to $22,147,951 having increased by $1,088,251,
During the period 1915-1924 the assessment of the whole Colony has risen from $14,287,285 to $22,147,951, an increase in rateable value of $7,860,666.
The circulation on the 31st December of notes of the three Banks having authorised issues was as follows:-
Hongkong & Shanghai Banking Cor-
poration
Chartered Bank of India, Australia, &
China
Mercantile Bank of India, Limited
$ 49,603,461
11,611,486
1,296,455
$ 62,511,402
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 $17,864,370 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 Calcutta for purposes of demonetization. The discount which prevailed be- tween 1905 and 1916 may be attributed to the immense quantity of similar coin which was minted at Canton as well as to the amount of Hongkong coin minted largely in excess of the needs of the
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