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business regularly draw small sums of money from the shop when
they require it. This Company has only been in existence since
12th, moon last year (January, 1908) and they have not yet
balanced or made up their books.
3.
In the accompanying estimates all the
figures are given in sub-coin (20 cent pieces) as they are in
their books any payment in notes being corrected by adding 8%. The profits shown are therefore in 20 cent pieces. 8% has
been taken as a fair average rate for the past year. The rate at
present however is considerably above that figure, so that at
the moment the divans are certainly making less than the amount
shown. In November and December, 1907, they were making a great
deal more.
4.
Several of these Divans have been in
business a long time. No. 5, Peel Street is one of the oldest
Divans in the Colony and has been established for over 20 years.
No. 55,Connaught Road West is probably doing more actual
business in opium than any other shop in the Colony. All of
them with the exception of 30, Cochrane Street are applying for
renewal. In the ordinary course they send up their petition
and pay their fee to the Opium Farmer for the half-year. They
also pay $1.00 a year cormission to the Opium Farmer (or his
clerk) and they have no further dealings with the Government
except to sign their bond. The fees are paid into the Treasury
by the Opium Farmer. If the licence is refused I understand
the fee is returned to the Divan-keeper, but in this instance he
would lose the great proportion of the money invested in his
Divan, as it will be impossible to find a market for his pro-
-perty.
5.
It is very difficult to make a reasonable
estimate of the capital of these Divans. In a few cases the figures can be obtained for the amount at which the Divans changed hands, but in most cases the figures given are simply the statements of the owners themselves. I have given their statement as to the value of their stock-in-trade. It will be
seen
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Private notes are available after approval.