CO129-508-7 Opium on Macao market 10-1-1928 - 9-11-1928 — Page 41

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always obtained.

10- Profits.

The books examined do not give

sufficient data to arrive at any idea of the profits

made. The profit on the retail sale of Persian

opium was from 30 to 100 per cent. There could not

have been much profit in selling Horse brand at $2.20

r $2.40 per tael. It is quite certain from the

figures given that the amount paid to the Government was never earned by the amount sold for consumption in lacau itself. It is also fairly clear that as is usual with Chinese syndicates of the sort, most of

the profit was made by the active managers of the firm and their friends and relations, who got control of large quantities of opium often on credit at apparently rather favourable prices.

:1

The

It is said that the "Yue Shing firm lost most of its capital. Jee himself apparently claimed that this was so, though the shareholders were not satisfied. Among the books of the Company ex mined was one dealing with a payment of 25 per cent to the subscribers, but it was not clear whether this was in the nature of a division of profits, or a return of capital. executors of Lee claimed that he owed the "Yue Shing" about two million dollars. It is clear that he did use the Company's funds for financing certain land deals in this Colony, and that he had made no preparations to wind up the Farm in advance, being hopeful of again obtaining the Monopoly, and at his own figure. early 1927 it was freely rumoured that the Company had lost heavily. There is every reason to believe this; no Indian opium could be obtained except at an exorbitant

price;

But in