138. The expenses of the sale of this property, amounting to $1,428.48, were charged to Expenditure.
139. With regard to the other Loan—No. 253—the position is as follows:-
Amount outstanding on 31st December, 1938... $85,771.42
Refund during 1939 (Credited to 1939 Revenue Head 9, Miscellaneous Receipts)
6,000.00
$79,771.42
Balance at 31st December, 1939
This item is shown in the Statement of Outstanding Trade Loans and Interest which is submitted as Enclosure 15 to this report.
140. Building and other Loans.
The position of the outstanding Building and other Loans repayable to the Colony, at the end of the previous year, and as at the 31st December, 1939 (Enclosure 5 of this report) is shown below.
Date.
31.12.38 $122,588.23
31.12.39 $300,779.88
Amount repaid. $95,165.96
(Includes $11,862.05 held as Sinking Fund on account of Diocesan Boys' School).
141. Diocesan Boys' School—Sinking Fund.
Amount outstanding.
$8274.085.11
The accumulated balance of the Sinking Fund held on account of the Diocesan Boys' School, viz., $13,059.27, was during the year transferred to Revenue Head 9—Miscellaneous Receipts.
142. Exchange Fund.
The accounts of this Fund for the year 1939 were examined by me with satisfactory results. The audited Balance Sheet and Statements, showing the position as at the end of the year, have, it is understood, been submitted to the Secretary of State. The existence of the Assets of the Exchange Fund has been verified with the certificate furnished by the Comptroller and Auditor-General.
143. Currency Accounts.
The accounts and records maintained in connection with the issue of Currency Notes (authorised under Ordinance No. 42 of 1935) and the Nickel and Subsidiary Coinage Accounts, have been examined. Surprise Audit Surveys have been made of the stocks of notes and coin, the results being satisfactory. These stocks were also surveyed by Boards appointed by Government.
144. China Companies Fees.
A Local Audit Inspection of the accounts kept by the Registrar of Companies at Shanghai, covering the period February, 1939 to April, 1940 has recently been carried out. The net revenue obtained from this source during the year, exclusive of the revenue derived from Stamp Fees, was H.K. $100,663.62 representing a decrease of H.K. $65,907.38 as compared with that of the previous year.
A (2) 25
138. The expenses of the sale of this property, amounting to $1,428.48, were charged to Expenditure.
139. With regard to the other Loan-No. 253-the position is as follows:-
Amount outstanding on 31st December, 1938... $ 85,771.42
Refund during 1939 (Credited to 1939 Revenue
Head 9, Miscellaneous Receipts)
Balance at 31st December, 1939
6,000.00
$ 79,771.42
This item is shown in the Statement of Outstanding Trade Loans and Interest which is submitted as Enclosure 15 to this report.
140. Building and other Loans.
The position of the outstanding Building and other Loans repayable to the Colony, at the end of the previous year, and as at the 31st December, 1939 (Enclosure 5 of this report) is shown below.
Date.
31.12.38
31.12.39
Amount repaid. $95,165.96
(Includes $11,862.05 held as Sinking Fund on account of Diocesan Boys' School).
$122,588.23
141. Diocesan Boys' School-Sinking Fund.
Amount outstanding.
$300,779.88
8274.085.11
The accumulated balance of the Sinking Fund held on account of the Diocesan Boys' School, viz., $13,059.27, was during the year transferred to Revenue Head 9— Miscellaneous Receipts.
142. Exchange Fund.
The accounts of this Fund for the year 1939 were examined by me with satisfactory results. The audited Balance Sheet and Statements, showing the position. as at the end of the year, have, it is understood, been submitted to the Secretary of State. The existence of the Assets of the Exchange Fund has been verified with the certificate furnished by the Comptroller and Auditor-General.
143. Currency Accounts.
The accounts and records maintained in connection with the issue of Currency Notes (authorised under Ordinance No. 42 of 1935) and the Nickel and Subsidiary Coinage Accounts, have been examined. Surprise Audit Surveys have been made of the stocks of notes and coin, the results being satisfactory. These stocks were also surveyed by Boards appointed by Government.
144. China Companies Fees.
A Local Audit Inspection of the accounts kept by the Registrar of Companies at Shanghai, covering the period February, 1939 to April, 1940 has recently been carried out. The net revenue obtained from this source during the year, exclusive of the revenue derived from Stamp Fees, was H.K. $100,663.62 representing a decrease of H.K. $65,907.38 as compared with that of the previous year.
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